ArcelorMittal SA (NYSE:MT) is expanding its digital transformation efforts through a strategic collaboration with Amazon.com Inc.’s (NASDAQ:AMZN) Amazon Web Services (AWS), aiming to accelerate industrial automation and support lower-carbon steel production across its global operations.
Partners With AWS To Scale AI In Steelmaking
ArcelorMittal said Monday that it will integrate AWS’ cloud, artificial intelligence, and edge technologies into its manufacturing operations to improve safety, asset reliability, and energy efficiency.
The company will converge parts of its operational technology (OT) and information technology (IT) on AWS infrastructure, extending cloud and AI capabilities to the edge of its production environments.
The deployment will use industrial IoT, real-time sensor data, and machine learning to enable predictive maintenance, computer vision-based quality control, process optimization, and digital twins of production assets and manufacturing lines.
To support broader digital adoption, AWS will also design and deliver a comprehensive education program for ArcelorMittal’s global workforce.
Multi-Year Steel Supply Agreement Supports Decarbonization
Separately, Amazon has signed a multi-year Supply Framework Agreement with ArcelorMittal to source structural steel across Europe and the United Kingdom.
Under the agreement, ArcelorMittal will supply lower-carbon XCarb® steel for Amazon’s operations facilities and AWS data centers, supporting Amazon’s goal of reaching net-zero carbon emissions by 2040.
The companies said the agreement reflects their shared ambition to reduce carbon emissions from large-scale building construction.
ArcelorMittal Technical Picture Remains Constructive
ArcelorMittal shares have gained 107.56% over the past 12 months. The stock remains 24.7% above its 200-day simple moving average (SMA) of $50.82 and 4.8% above its 100-day SMA of $60.46, signaling that the long-term uptrend remains intact.
Near-term momentum is more balanced. The stock trades 6.9% below its 20-day SMA of $68.08 and 0.2% below its 50-day SMA of $63.52, placing it near an important technical decision zone. The 20-day SMA remains above the 50-day SMA, while the 50-day SMA stays above the 200-day SMA, preserving the broader bullish trend.
The moving average convergence divergence (MACD) indicator suggests momentum has cooled following the June rally. A move above the signal line would indicate strengthening upside momentum, while continued weakness could point to additional consolidation.
Key resistance stands near $65.00. Initial support is around $59.00.
Earnings And Analyst Outlook
ArcelorMittal is expected to report second-quarter results on July 30. Wall Street expects earnings of $1.23 per share, down from $1.32 a year earlier, on revenue of $16.96 billion, up from $15.93 billion.
The stock trades at approximately 16.6 times earnings and carries a consensus Buy rating with an average analyst price forecast of $67.10. Recent analyst actions include:
- Wells Fargo maintained Equal-Weight and raised its price forecast to $61 on May 1.
- Wells Fargo raised its price forecast to $60 on April 16.
- JPMorgan downgraded the stock to Underweight on March 9.
MT Stock Price Activity: ArcelorMittal shares were down 0.05% at $63.38 during premarket trading on Monday, according to Benzinga Pro data.
Photo via Shutterstock
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