ArcelorMittal SA has supported the metal market

ArcelorMittal earned $ 1.7 billion for the 2 nd quarter

In brief: ArcelorMittal SA still earns, despite a substantial drop in demand for certain metals.

ArcelorMittal SA, largest steel company all over the world, said that the jump in sales and price increases helped it to generate a profit of $ 1.7 billion in the II quarter. The company stated that it intends to sell the unit for the production of stainless steel.

During the same period in 2009 Arcelor recorded a loss of $ 792 million. ArcelorMittal revenue increased by 29.9% to $ 21.7 billion in the 2 quarter, compared to $ 15.2 billion during the same period of 2009. “Although the results of the third quarter were influenced by seasonal factors and the economic slowdown in China, the basic demand continues to improve – the statement CEO Lakshmi Mittal says, – The task of the second half growth will shift costs to customers.”

Igor Tringlers
2010-07-28 11:52, Commodities.

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