BREAKING NEWS

BREAKING NEWS

ArcelorMittal sees gradual pick-up

Now Reading:

ArcelorMittal sees gradual pick-up

Text size Aa Aa

ArcelorMittal is forecasting only a gradual pick-up in business in the second-half of 2009 as global demand for steel falls 10 percent this year.

The world’s largest steelmaker has announced a third successive quarterly loss due to weak demand and lower prices. It also had to write down the value of some of its inventory and pay out lay-off costs to cut the size of its work force.