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Goldman Sachs Upgrades ArcelorMittal to Buy as Iron Ore Prices Decline
ByAinvest
Thursday, Apr 10, 2025 5:23 am ET1min read
Goldman Sachs upgrades ArcelorMittal (MT) from Neutral to Buy, increasing its price target to $31.70. The upgrade is driven by declining iron ore and metallurgical coal prices, expected to provide cost advantages for the steelmaker. Goldman Sachs anticipates oversupply in the iron ore and met coal markets, improving steel spreads and margins for ArcelorMittal. The firm also expects potential reductions in steel exports from China and increasing political efforts to support pricing dynamics.
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