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ArcelorMittal profits up

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ArcelorMittal profits up

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Steel giant ArcelorMittal has reported a profit for the July to September quarter, ending a run of three consecutive quarterly losses.

The company made a net profit of over 610 million euros in the period, 76% less than last year. The world’s largest steel producer said it should see “further gradual improvement” in 2010, despite, what it called, the “challenging operating environment”. Steel producers have suffered as demand for steel has fallen in the economic downturn.