Core Insights - ArcelorMittal reported revenue of $15.93 billion for Q2 2025, a 2% decline year-over-year, with an EPS of $1.32 compared to $0.63 a year ago, indicating a significant improvement in profitability despite the revenue drop [1] - The reported revenue exceeded the Zacks Consensus Estimate of $15.54 billion by 2.47%, while the EPS fell short of the consensus estimate of $1.33 by 0.75% [1] Financial Performance Metrics - Crude steel production was 14.40 million metric tons (Mmt), slightly below the average estimate of 14.51 Mmt [4] - North American crude steel production was 2,034.00 thousand metric tons (Kmt), lower than the estimated 2,167.02 Kmt [4] - Total steel shipments were 13.80 Kmt, compared to the average estimate of 14.14 Kmt [4] - Iron ore shipments were 9.90 Mmt, exceeding the average estimate of 7.68 Mmt [4] - Steel shipments in Europe were 7,305.00 Kmt, below the estimated 7,554.19 Kmt [4] - Steel shipments in Brazil matched the estimate at 3,498.00 Kmt [4] - North American steel shipments were 2,531.00 Kmt, lower than the estimated 2,616.37 Kmt [4] Sales Performance - Sales in North America reached $3.1 billion, surpassing the average estimate of $2.94 billion, but reflecting a year-over-year decline of 1.9% [4] - Sales in Brazil were $2.82 billion, below the estimated $2.97 billion, marking a 13.2% decline year-over-year [4] - Sales from Sustainable Solutions were $2.73 billion, exceeding the average estimate of $2.51 billion, with a year-over-year decline of 5.7% [4] - Mining sales were reported at $857 million, above the average estimate of $703.08 million, showing a year-over-year increase of 33.7% [4] - Sales in Europe were $7.65 billion, slightly above the estimated $7.57 billion, with a year-over-year decline of 2.2% [4] Stock Performance - Over the past month, ArcelorMittal's shares returned -1.8%, contrasting with the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Second quarter EBITDA increased to $135 per ton, indicating structural improvements and higher margins due to asset optimization and growth strategy [5][10] - Compared to the 2024 base, future normalized EBITDA is expected to be $2.1 billion, with one-third of this to be captured in the current financial year [6] Business Line Data and Key Metrics Changes - Calvert achieved a new shipment record in the second quarter, 10% higher than the first quarter and 10% above the same period last year [7] - Liberia posted record volume in the second quarter, with guidance for 10 million tonnes of shipments for the year [30] Market Data and Key Metrics Changes - The North American segment is expected to see marginally higher tariff costs, but this will be offset by the impacts of Calvert consolidation [18] - In Europe, the market is transitioning to a more favorable structure with the promise of trade defense mechanisms and carbon border adjustments [9][10] Company Strategy and Development Direction - Full ownership of Calvert is viewed as a positive development, enhancing the North American franchise [7] - The company is investing in a new world-class non-grain oriented electrical steel facility in Alabama, with a billion-dollar investment expected over the next few years [8] - The company aims to maintain growth momentum through strategic projects and an optimized asset portfolio [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum and highlighted the importance of strategic projects in supporting EBITDA [6][10] - The company is optimistic about the European market's potential, contingent on the European Commission's actions regarding trade defense mechanisms [9][10] Other Important Information - The company has bought back 38% of its equity over the past four and a half years, enhancing shareholder value [11] - The company is focused on returning capital to shareholders while continuing to invest in growth [122] Q&A Session Summary Question: Can you walk us through the different moving parts for EBITDA in Q3 2025? - Management discussed operational issues in Mexico impacting production, resulting in $40 million losses in Q2, but expected stable shipments moving forward [14][15][17] Question: How do you plan to mitigate the risk of tariffs on slab imports? - Management highlighted a new slab supply agreement with US Steel and indicated that tariff impacts have been largely captured in Q2 results [20][21] Question: What is the expected contribution margin from Liberia's increased shipments? - Management confirmed guidance for Liberia at 10 million tonnes for the year, with expected profitability increases as new products are introduced [30][31] Question: What is the company's strategy regarding M&A in the US? - Management stated that the US remains a key market, with ongoing plans for growth, but did not comment on specific M&A targets [65] Question: How does the company view the potential for capacity restructuring in China? - Management acknowledged the need for capacity reform in China and expressed cautious optimism based on recent statements from Chinese authorities [100][101] Question: What are the expectations for the European market regarding safeguards? - Management indicated that the industry is advocating for limits on imports to boost domestic utilization rates and investments [54][56]

Financial Performance & Strategic Growth - ArcelorMittal reported $3.4 billion EBITDA in 1H'25, with a margin of $125/tonne, exceeding the long-term average of $89/tonne[6] - Strategic growth projects and recent M&A are expected to increase EBITDA potential by $2.1 billion, with $0.2 billion already captured in 1H'25 and an additional $0.5 billion expected in 2H'25[6, 24] - M&A activities, including the full consolidation of Calvert, Tuper, and AMTBA, are projected to contribute $0.5 billion to incremental EBITDA[28] - Strategic projects are expected to further boost Group EBITDA potential by $2.1 billion[24] Calvert Acquisition & Expansion - ArcelorMittal secured 100% ownership of Calvert, recognizing a $1.7 billion gain on consolidation[6, 20] - Calvert's EBITDA was $614 million in 2024, which will now be fully consolidated within the North America segment[20] - Calvert achieved record steel shipments in 2Q'25, with a +5% increase in 1H'25 shipments compared to 1H'24 (2.398 million tonnes vs 2.276 million tonnes)[17] - A new 1.5Mt EAF was commissioned at Calvert, with the first slabs produced in Jun'25[6, 20] AMNS India Expansion - Phase 1 capacity expansion to 15 million tonnes at AMNS India is on track by the end of 2026[35] - AMNS India commissioned CGL3 in Jul'25, enhancing downstream capabilities and automotive steel leadership[38, 41] Capital Allocation & Balance Sheet - The company generated $2.3 billion in investable cash flow over the past 12 months[55] - Shareholder returns amounted to $1.1 billion, including $0.7 billion in share buybacks and $0.4 billion in dividends[55] - Net debt increased due to acquisitions and growth investments, with liquidity at $11.0 billion at the end of the quarter[55] - Consistent buybacks have enhanced book value by $18/share[56, 64]

Company Overview - Live Ventures Incorporated is a diversified holding company focused on value-oriented acquisitions of domestic middle-market companies [2] - The company's acquisition strategy is sector agnostic, targeting well-run, closely held businesses with a proven track record of earnings growth and cash flow generation [2] - Live Ventures aims to partner with management teams of acquired businesses to enhance stockholder value through a disciplined buy-build-hold long-term strategy [2] - Founded in 1968, the company was refocused into a diversified holding company in 2011 under the leadership of CEO Jon Isaac [2] - The current portfolio includes subsidiaries in the textile, flooring, tools, steel, and entertainment industries [2] Upcoming Financial Results - Live Ventures will release its financial results for the fiscal third quarter ended June 30, 2025, before the market opens on August 7, 2025 [1] - A conference call to discuss the results is scheduled for August 7, 2025, at 2:00 p.m. Pacific Daylight Time (5:00 p.m. Eastern Daylight Time) [1] - Investors can access a recording of the discussion on the company's Investor Relations page after the call [1]

South Korea was in an awkward position. Its key trading rivals in the European Union in Japan had secured an arrangement with Washington on things like autos and reciprocal tariffs. South Korea needed to make a deal.That's what we saw today. Because South Korea competes in major industries like semiconductors, autos, steel, and aluminum. And to see other countries have better arrangements with the US would have been unacceptable.If we look at the deals between Japan and South Korea, they're very similar in ...

India’s Tata Steel is planning to explore new markets in regions such as the Middle East and Latin America, as President Donald Trump’s tariffs impact shipments to the US. https://t.co/vCL8YoZAZ6 ...

（来源同花顺，以上信息为南都·湾财社AI大数据自动生成） A股三大指数31日集体收跌，截至收盘，沪指跌1.18%，深成指跌1.73%，创业板指跌1.66%，北证50指 数跌1.16%，沪深京三市成交额19618亿元，较上日放量909亿元。两市超4200只个股下跌。 板块题材 上，智谱AI、液冷服务器、辅助生殖板块走高，钢铁、煤炭、保险板块调整。 盘面上，智谱AI 板块震 荡走强，易点天下20CM涨停。液冷服务器板块全线走强，思泉新材20CM涨停，英维克、淳中科技等 涨停封板。辅助生殖板块持续走强，共同药业、安科生物20CM涨停，汉商集团涨停封板。钢铁板块调 整，包钢股份跌超8%。煤炭板块全线走低，板块内全线飘绿，安泰集团跌超7%。 ...

Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) Hebei Branch is actively promoting green development through green finance, aiming to support the economic and social development of Hebei Province and contribute to the construction of a beautiful Hebei [1][7]. Group 1: Green Loan Initiatives - As of June 30, 2025, the green loan balance of ICBC Hebei Branch reached 174 billion yuan, an increase of 30.3 billion yuan from the beginning of the year, with a growth rate 12 percentage points higher than the overall loan growth [1]. - In Xiong'an, the green loan balance reached 33.3 billion yuan, leading the industry and demonstrating the branch's commitment to green finance [2][3]. Group 2: Innovative Financial Products - The branch has introduced various innovative financial products, including the "Xiong'an Development Loan" and "Meteorological Assistance Loan," to support green projects and enhance agricultural resilience against natural disasters [4][3]. - ICBC Hebei Branch has provided a total of 16.9 billion yuan in loans for green building projects, including zero-carbon buildings and ecological restoration projects [3][4]. Group 3: Support for Renewable Energy Projects - The branch has established a "Carbon Peak and Carbon Neutrality" special loan and low-carbon transition fund, financing 16.3 billion yuan for 32 environmentally friendly enterprises [4]. - As a joint lead underwriter for green bonds, the branch successfully completed the issuance of 450 million yuan in green perpetual bonds, with all funds allocated to clean energy projects [4]. Group 4: Commitment to Sustainable Practices - ICBC Hebei Branch is implementing ten special actions to reduce its operational carbon footprint, including energy efficiency improvements and promoting green office practices [6]. - The establishment of the first green low-carbon bank outlet in Xiong'an reflects the branch's commitment to sustainable banking practices and community engagement [6].

Market Overview - The market experienced a day of volatility with all three major indices falling over 1% [1][2] - Overall, the market showed a trend of fluctuating upward this month, with all three indices closing higher on a monthly basis; the ChiNext Index rose over 8% this month, while the Shanghai Composite Index fluctuated around 3600 points [1] Trading Volume and Market Sentiment - The total trading volume in the Shanghai and Shenzhen markets reached 1.94 trillion yuan, an increase of 91.7 billion yuan compared to the previous trading day [1] - Market sentiment was mixed, with more than 4200 stocks declining, indicating a lack of strong bullish momentum [1] Sector Performance - The innovative drug concept sector showed strength, with stocks like Nanxin Pharmaceutical hitting the daily limit [1] - AI application stocks remained active against the trend, with companies like Yidian Tianxia also hitting the daily limit [1] - AI hardware stocks exhibited mixed performance; the liquid cooling server concept was strong, with stocks like Yingweike hitting the daily limit [1] - Conversely, cyclical sectors such as steel and non-ferrous metals collectively weakened, with Anyang Steel dropping over 7% [1] - The financial sector was sluggish, with Zhongyin Securities falling over 5% [1] - Sectors with notable gains included assisted reproduction, liquid cooling IDC, Xinchuang, and Huawei Ascend, while sectors with significant declines included steel, coal, non-ferrous metals, and film [1]

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2025 reached KRW 17.6 trillion, with an operating profit of KRW 610 billion, marking growth for two consecutive quarters [3][9] - Operating profit margin improved from 3.9% to 5.7%, with EBITDA recorded at KRW 1.6 trillion [4][10] - Net debt decreased slightly quarter on quarter due to effective investment and working capital management [9] Business Line Data and Key Metrics Changes - Steel operating margin increased by 35.6% to KRW 610 billion, with improvements noted in both domestic and overseas steel operations [10][12] - The rechargeable battery materials segment faced increased deficits due to initial operational costs and falling lithium prices, although future losses are not expected to increase [7][10] - POSCO International showed robust performance, while POSCO E&C's overseas projects incurred additional costs leading to marginal decreases [10][22] Market Data and Key Metrics Changes - The domestic market showed moderate improvements contributing to mill margin growth, while overseas steel operations in Indonesia and Vietnam diversified sales channels [4][13] - The lithium market is seen as opportune, with a significant joint investment in Argentina expected to generate synergies [8][10] Company Strategy and Development Direction - POSCO is committed to ongoing efficiency improvements and restructuring of non-core assets, aiming to generate KRW 1 trillion in cash flow [11][12] - The company is focusing on high-value added steel products and has initiated projects for advanced technologies like HiRX, which is designated as a national strategic technology [16][17] - Future investments are planned in high-growth markets such as the U.S. and India, with a focus on premium products [80][81] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about sustaining profit levels into Q3 despite global tariff uncertainties [5][6] - The potential decrease in Chinese steel production is expected to positively impact POSCO's profits in the second half of the year [27] - The company anticipates that lithium prices will rebound, contributing to improved profitability in the rechargeable battery materials segment [36][67] Other Important Information - The sale of the POSCO Changjiegang Stainless Steel subsidiary is underway due to ongoing deficits from oversupply and local government policies in China [6][10] - The company is actively pursuing customer certifications and commercial production in its lithium business, with significant investments in new plants [7][21] Q&A Session All Questions and Answers Question: Steel market outlook and price negotiations - Management noted that while there are expectations of decreased production in China, domestic demand has increased, which is expected to positively impact profits [26][27] - Price negotiations in the automotive and shipbuilding industries are ongoing, with optimism about maintaining favorable terms despite raw material fluctuations [28][30] Question: Update on Indian joint venture and potential acquisitions - Discussions regarding the Indian joint venture are progressing, with environmental feasibility studies ongoing [31][32] - The potential acquisition of the Waiala steelmaker is under review, focusing on mining opportunities and renewable energy [33][34] Question: Lithium market developments - Management believes lithium prices will not fall below $8, with expectations of gradual increases in the coming years [36][67] Question: U.S. and European market strategies - The company plans to adapt to the U.S. market despite tariffs, with a focus on maintaining competitive pricing and exploring other regions [39][44] - In the European market, management anticipates limited volume increases due to quota restrictions but aims to keep prices competitive [46][47] Question: PZSS sale and product deficits - The sale of PZSS is progressing, with final details being negotiated, and management expects to cover losses through divestments [51][52] - Currently, there are hardly any steel products recording deficits due to restructuring efforts [55] Question: Lithium certification progress and safety incidents - Certification for lithium products is ongoing, with three customers already certified [59] - The impact of a safety incident in E&C is still being assessed, with potential effects expected in Q4 [61][62]