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ArcelorMittal (NYSE:MT) stated on Friday it had resumed metal provides to Russia from its ArcelorMittal Temirtau mill in Kazakhstan, Reuters experiences.
The world’s second largest steelmaker stated it’s in full compliance with Western sanctions imposed on Russia, which don’t ban metal exports to the nation.
“Having given very cautious consideration to the state of affairs, gross sales of primary merchandise from AMT to Russia had been resumed as the one various to guard the viability of the mill and the livelihood of its 35,000 workers,” the corporate stated.
Earlier than the battle in Ukraine started, ArcelorMittal (MT) equipped greater than 150K metric tons/month; in 2021, the corporate offered metal merchandise value $1.6B to Russia.
ArcelorMittal (MT) shares just lately traded at YTD lows as commodity costs plunged.
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