Q3 2019 ArcelorMittal SA Earnings Call Transcript
Hi, good afternoon, and good morning, everybody. Welcome to ArcelorMittal's Third Quarter 2019 Analyst and Investor Call. This is Daniel Fairclough from the ArcelorMittal Investor Relations team, and I'm joined on this call today by GenuÃÂno Christino, our Head of Finance. We're here to answer your questions on the third quarter results, which were published this morning alongside a Q&A document and the presentation with detailed speaker notes on our website. So today's call is scheduled to last up to 45 minutes. (Operator Instructions)
So before we begin the Q&A session today, I'd like to make a few remarks. I think it's clear that deteriorating steel market conditions have continued to weigh on the company's results in the third quarter. Demand in our core markets, Europe and the U.S., has remained weak, reflecting depressed manufacturing activity and continued weakness in automotive markets compounded, obviously, by further customer destocking. The current sales spread environment is both exceptional and
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