ArcelorMittal positive about steel demand prospects

Global – ArcelorMittal continues to expect global apparent steel consumption to increase by between 3% and 3.5% this year.

The leading steelmaker and scrap consumer has upped its consumption growth forecast for Europe to 3-4% based on ′strong′ demand. And despite the negative impact of severe weather in this year′s first quarter, the growth forecast for the USA has been increased to 5-6% for 2014 as a whole.

Meanwhile, ′signs of stabilisation′ in China owing to the government′s targeted stimulus package have led ArcelorMittal to expect domestic steel demand growth this year of between 3% and 3.5%. ′While risks remain to steel demand in the CIS and other emerging markets including Brazil, the stronger fundamentals in our key developed world markets continue to support our expectation that steel shipments should increase by approximately 3% in 2014 as compared to 2013,′ the company adds. 

Lakshmi Mittal, ArcelorMittal′s chairman and ceo, comments: ′The second quarter and first half results reflect the anticipated improvement in steel shipments and margins. Looking ahead, indicators in both Europe and the US, which together account for two thirds of our shipments, continue to be positive.′

ArcelorMittal recorded a net income of US$ 52 million in the second quarter versus a net loss of US$ 0.8 billion in the same period last year. Sales improved from US$ 20.2 billion to US$ 20.7 billion while total steel shipments were 21.5 million tonnes as compared with 20.9 million tonnes in the second quarter of 2013.

For more information, visit: www.arcelormittal.com