Arcelormittal SA (JSE: ACL) share price, discussion & sentiment

Come on ACL, show us something!

ACL playing like the Lions in the rain today, hey.

Come on ACL, do something

algos dumping before close again, lekker predictable

1.21, that's rough today hey.

1.21 now, eish. Steel's getting hit today.

Come on ACL, catch the express train

EskomSePush says stage 5 tonight, gonna be rough for the smelters ngl

@bear_naidoo hard to see one tbh

Margin compression is the real issue here though. Global steel prices are nowhere near what they were two years back, and locally the rand weakness only helps export volumes so much when your input costs are climbing. At 1.30 the yield looks okay on paper but you're betting on either a demand recovery or cost discipline over the next 18 months, and neither is a lock with load-shedding still grinding through operations.

@nico_the_analyst but didn't the rand weakness actually help export margins in the last quarter?

Good morning everyone

@bear_naidoo fair question, margins are the real question mark here

Good morning everyone

@nico_the_analyst fair point but hasn't ACL already priced in everything? what's the actual upside catalyst here

Morning all, hoping for better steel numbers ahead.

ACL at R1.30 is pricing in a fair amount of structural headwinds for steel: weak rand support gets offset by soft global demand and local automotive slowness, so the H1 2026 numbers will be crucial to see if margins held or if we're facing another round of downgrades. The dividen

acl sitting at 1.30 is cheap relative to global peers on fcf yield, but the rand weakness is a double edged sword for a local listed entity. sa demand is the real problem, construction is limping and automotive hasn't bounced. depends if you think capex into greenfield projects actually drives returns or just burns cash.

Not sure about this one. Steel demand is still weak with load-shedding killing construction, and I haven't seen ACL's volumes pick up meaningfully. Do you think they can hold margin at 1.30 if the rand stays soft but input costs don't fall?

Steel demand is still pretty anaemic locally, and ACL's margins got squeezed again on lower volumes. That said, at R1.30 the dividend yield is starting to look interesting if they can hold it, and the global iron ore price has at least stopped falling. Not a screaming buy, but the downside might be getting priced in.