The document provides an analysis of the U.S. steel industry outlook for 2018, highlighting the positive trends in global demand, particularly from China, and the impact on U.S. steel prices. It discusses the investment rationale for U.S. steel companies, noting potential challenges such as input cost inflation and the influence of Chinese demand. The document also initiates a Buy rating on ArcelorMittal's USD-denominated bonds, citing expected benefits from increased cash flow and deleveraging efforts.
doj/DataSet10/EFTA01385448.pdf
{"title":"Steel Industry Outlook","key_people":["Sean-M Wondrack"],"document_date":"2018-01-03","document_type":"correspondence","key_locations":["U.S.","China","Europe"],"key_organizations":["Deutsche Bank Securities Inc.","ArcelorMittal"],"reference_numbers":["DB-SDNY-0086733","SDNY_GM_00232917","EFTA01385448"]}