Jim Cramer - Mad Money ArcelorMittal MT-N DON'T BUY May 10, 2021

This is one of a deep global cyclicals and has been battered around. Not a bad time to take a look at this one.

What do you think Chinese demand will be? That is the predictor of this stock. Prices are off and chart is awful. Well run but evident that people have concerns about Chinese demand. Watch until you see turn in Chinese demand.

Steel companies are really under the gun right now. Demand has slowed. There is a glut of supply and prices are falling very quickly. This company has a very high debt to cash flow ratio. It is very important to look at the leverage that they have. He owns a couple of their bonds, short dated ones. He prefers their debt because it ranks higher than their equity and doesn’t suffer if they cut the dividend.

(Market Call Minute.) One of the largest steel companies globally. The steel business has had a very tough time and will continue to have that. There is massive overcapacity in China.

Commodities move with the economic cycle. Likely this has peaked and is heading into a trough, so don't buy now. This stock hasn't done much since its 2008 peak. Maybe it's good for traders, but there are better companies that have growing free cash flow.