Market Overview - Benchmark indices Sensex and Nifty ended lower due to foreign fund outflows and weak global market trends [1] - The 30-share BSE Sensex declined by 94.73 points, or 0.11%, closing at 83,216.28, with an intraday low of 82,670.95, down 640.06 points or 0.76% [3] - The 50-share NSE Nifty dipped by 17.40 points, or 0.07%, settling at 25,492.30 [4] Company Performance - Bharti Airtel saw a significant decline of 4.46% after Singtel sold approximately 0.8% stake for Rs 10,353 crore (SGD 1.5 billion) [4] - Other companies that lagged included Tech Mahindra, Trent, Reliance Industries, HCL Tech, Hindustan Unilever, and ITC [4] - Gainers included Bajaj Finance, Tata Steel, Mahindra & Mahindra, and Bajaj Finserv [4] Institutional Activity - Foreign Institutional Investors (FIIs) sold equities worth Rs 3,263.21 crore on Thursday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 5,283.91 crore [5] Global Market Trends - Asian markets, including South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite Index, and Hong Kong's Hang Seng index, all settled lower [5] - Brent crude oil prices increased by 1.31% to $64.21 per barrel [5]

Iron ore resumed its recent decline and headed for the biggest weekly drop since February as weak steel demand in China and shrinking mill margins weighed on sentiment https://t.co/rXqp7gvZ9O ...

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: The conference call primarily discusses the metals and materials industry, with a particular emphasis on aluminium, copper, gold, and construction materials [2][3][4][9]. Core Insights and Arguments - **Resilient Metals Demand**: Despite various challenges, metals demand has remained strong, driven by front-loading shipments to the US and increasing demand from sectors such as renewable energy, electric vehicles (EVs), and AI data centers [2][9]. - **Supply Disruptions Impacting Aluminium**: Aluminium prices have increased by 8% month-on-month due to robust demand and supply disruptions, including partial output disruptions at Century Aluminum's smelter in Iceland and potential power supply issues at South32's Mozal smelter in Mozambique [3][9]. - **China's Production Ceiling**: China's production ceiling of 45 million tonnes for aluminium, combined with low inventories and strong investments in the grid and EV demand, supports a positive outlook for aluminium [3][6]. - **Gold ETF Inflows**: Gold ETFs saw record inflows of USD 8.7 billion in the week ending October 22, leading to a rally in gold prices, although prices have since moderated due to profit booking [5][9]. - **Long-term Outlook for Construction Materials**: While the current demand for construction materials is lukewarm, the long-term outlook remains positive, contingent on the execution of supply-side reforms and earnings improvements [6][9]. Additional Important Insights - **China's 15th Five-Year Plan**: The plan emphasizes upgrading traditional industries and accelerating developments in new sectors, which may lead to policy changes aimed at tackling excess supply and boosting demand [4][9]. - **Price Forecast Adjustments**: Recent adjustments to price forecasts for metals reflect current market fundamentals, with copper and cobalt receiving the most significant upgrades due to supply disruptions [2][9]. - **Commodity Price Trends**: The report includes detailed commodity price trends, showing fluctuations in prices for various metals, including copper, aluminium, and gold, with specific percentage changes over different time frames [10][11]. Conclusion - The conference call highlights a complex landscape for the metals and materials industry, characterized by resilient demand, significant supply disruptions, and evolving policy frameworks in China. The focus on aluminium as a preferred investment reflects the current market dynamics and future potential in the sector [6][9].

Market Overview - Despite markets hovering near all-time highs, there is a shift from exuberance to cautious optimism, influenced by weak U.S. employment numbers and the potential economic impact of a federal government shutdown [1] - The market has not seen a 10% correction in over six months, leading investors to brace for a potential drawdown instead of a year-end rally [2] Value Stocks - Investors sitting on significant unrealized gains may consider reallocating to value stocks to minimize losses and generate income through dividends [2] - Five value stocks with a market cap of $3 billion or higher and a Benzinga Edge Value score of at least 90 are highlighted for portfolio protection in volatile environments [3] Sasol Ltd. - Sasol Ltd. has a Benzinga Edge Value Score of 99.66, with a market cap of $3.94 billion, trading at 10 times earnings, a P/B value of 0.4, and a P/S ratio of 0.27, indicating it is undervalued compared to U.S. and emerging market peers [4] - The stock has shown volatility but has evidence of upward momentum, with key technical levels to watch for a potential breakout [6] Gerdau SA - Gerdau has a Benzinga Edge Value Score of 97.67, with a market cap of $7 billion, trading at 8 times forward earnings, a P/B value of 0.70, and a P/S ratio of 0.37, along with a 3.27% dividend [7] - The stock has been trending higher since a Golden Cross in August, currently over 10% above its 50-day SMA, indicating bullish momentum [9] Ecopetrol SA - Ecopetrol has a Benzinga Edge Value Score of 97.47, with a market cap of $19 billion and annual sales exceeding $30 billion, showing a nearly 20% increase year-to-date [10] - The stock's fundamentals and technical trends are favorable, with a P/E ratio of 6.55 and a P/S ratio of 0.64, and bullish momentum is building [12] Seaboard Corp. - Seaboard has a Benzinga Edge Value Score of 94.03, with a market cap of $3.5 billion and annual sales over $9 billion, trading at 9 times earnings, a P/S ratio of 0.36, and a P/B ratio of 0.71 [13] - Recent signals indicate a revival in bullish momentum, with a significant rally taking the share price above the 50-day SMA [15] Fluor Corp. - Fluor has a Benzinga Edge Value Score of 91.46, with a market cap of $7 billion and annual sales exceeding $16 billion, trading at just 2 times earnings and a P/S ratio of 0.47 [16] - The stock has seen a 15% increase in the last three months, breaking above its 50- and 200-day SMAs, indicating a potential momentum reversal [18]

Illegal immigrants have been found working at Stegra's planned green steel plant in northern Sweden, adding yet more pressure on a company that’s racing to secure extra funds https://t.co/zVVfTzu4Zb ...

Financial Performance - ArcelorMittal reported $4.9 billion in EBITDA for 9M'25[5] - The company's EBITDA margin was $121/t for 9M'25[5], which is 36% higher than the 2012-2019 average of $89/t[5,9] - Adjusted net income reached $2.3 billion, with adjusted EPS at $2.99[5] - Investable cash flow of $21.4 billion has been generated since 2021[56] Strategic Growth & Investments - Strategic growth projects and M&A are expected to increase future EBITDA potential by $2.1 billion, including $0.7 billion in 2025 and $0.8 billion targeted in 2026[5] - The company invested $1.2 billion in strategic growth capex to enhance long-term EBITDA capacity[5] - Strategic projects are delivering targeted EBITDA, with Liberia on track to ship 10Mt of iron ore and achieve $0.2 billion in EBITDA in 2025[5,32] Capital Allocation & Returns - ArcelorMittal has generated investable cash flow of $1.5 billion over the past 12 months[5] - The company returned $0.8 billion to shareholders[5] - Since September 2020, 38% of shares have been repurchased, adding $18/share to book value, which now stands at $72/share[5] Market Outlook & Trade - A new EU steel tariff proposal aims to reduce imports by approximately 10 million tonnes[23] - The proposed tariff framework could increase domestic capacity utilization rates from approximately 65% to a more viable range of 80-85%[25,26] Safety - The Group lost time injury frequency rate (LTIFR) was 0.68[3]

German Chancellor Friedrich Merz backed proposed EU tariffs to protect the continent’s struggling steelmakers and reaffirmed his government’s commitment to securing steel production and jobs https://t.co/EfwTBolTDa ...

Market Overview - Major U.S. index futures indicate a modestly higher open, with stocks expected to build on gains from the previous session [1] - Concerns about an AI bubble and potential corrections persist, but the current momentum appears to be upward [2] Employment and Layoffs - U.S.-based employers announced 153,074 job cuts in October, a 183% increase from September and a 175% rise from October of the previous year [3] - Year-to-date job cuts reached 1,099,500, the highest level since 2020, driven by AI adoption, reduced consumer spending, and rising costs [4] Individual Stock Movements - Snap (SNAP) shares surged by 19.5% in pre-market trading following a $500 million stock buyback announcement and strong revenue guidance for Q4 [5] - AppLovin (APP) also saw significant pre-market strength after better-than-expected Q3 results [5] - Conversely, DoorDash (DASH) shares fell by 10.6% after reporting Q3 earnings that missed analyst expectations [6] Economic Data - Private sector employment increased by 42,000 jobs in October, rebounding from a revised loss of 29,000 jobs in September, exceeding economists' expectations [9] - The ISM services PMI rose to 52.4 in October, indicating growth, after a reading of 50.0 in September [10] Sector Performance - Airline stocks showed substantial strength, with the NYSE Arca Airline Index rising by 5.8% [11] - Biotechnology stocks also performed well, reflected by a 3.1% increase in the NYSE Arca Biotechnology Index [11] - Computer hardware and semiconductor stocks saw gains, with the NYSE Arca Computer Hardware Index and the Philadelphia Semiconductor Index increasing by 3.1% and 3.0%, respectively [12] Commodity and Currency Markets - Crude oil futures rose by $0.41 to $60.01 per barrel, while gold futures climbed by $31.70 to $4,024.60 per ounce [13] - The U.S. dollar traded at 153.47 yen and $1.1537 against the euro [13] International Markets - Asian markets rose, with Japan's Nikkei 225 Index increasing by 1.3% and China's Shanghai Composite Index jumping by 1.0% [17][16] - European stocks drifted lower despite a recovery in the U.S. market, with Germany's industrial production expanding by 1.3% in September [22]

Core Insights - The steelmaker anticipates a potential increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) of $2.1 billion in the coming years [1]

Core Insights - ArcelorMittal reported resilient operating results for Q3 2025, with EBITDA of $1.5 billion and net income of $0.4 billion, reflecting the benefits of asset optimization and strategic growth investments [2][7][19] - The company is focused on safety, achieving a lost time injury frequency (LTIF) rate of 0.76x in Q3 2025, as part of its three-year safety transformation program [2][10][11] - The European Commission's proposal for strengthened trade measures is expected to support the steel industry's capacity utilization and profitability, which is crucial for the company's European operations [3][8][20] Financial Performance - Sales for Q3 2025 decreased by 1.7% to $15.7 billion compared to Q2 2025, primarily due to seasonally lower shipments [16] - Operating income fell to $544 million in Q3 2025 from $1.9 billion in Q2 2025, impacted by exceptional charges related to acquisitions [18][25] - Adjusted net income was $474 million in Q3 2025, down from $1.0 billion in Q2 2025, with adjusted EPS of $0.62 [19][21] Operational Highlights - Crude steel production in Q3 2025 was 13.6 million tonnes, a decrease from 14.4 million tonnes in Q2 2025, primarily due to seasonal factors [5][30] - Total Group iron ore production reached 12.1 million tonnes in Q3 2025, with record production and shipments from Liberia [5][37] - The company continues to focus on strategic capex, investing $1.2 billion in growth projects over the past 12 months [2][22] Market Outlook - The company is optimistic about medium to long-term steel demand growth, driven by infrastructure development and the transition to new energy systems [3][9] - ArcelorMittal plans to maintain consistent shareholder returns, committing to return a minimum of 50% of post-dividend annual free cash flow [3][9] - The company is adapting to market challenges and is focused on evolving its business towards higher returns on capital [9][10] Regional Performance - North America reported sales of $3.3 billion in Q3 2025, with operating income of $28 million, significantly impacted by maintenance shutdowns [24][25] - Brazil's sales remained stable at $2.8 billion, with operating income of $210 million, recovering from a loss in the previous quarter [27][29] - European operations saw a decline in sales to $7.2 billion in Q3 2025, with operating income improving to $233 million [30][32] Sustainability Initiatives - The company launched the Helioroof® production line, integrating solar cells into steel roofing, reflecting its commitment to sustainable construction [20][9] - ArcelorMittal is focused on decarbonization and has allocated $0.1 billion for related projects in Q3 2025 [22][39]