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ArcelorMittal sees iron ore hit, lower steel growth in 2015

Bearish on United States, says steel demand to decrease up to 1% in the US

Reuters  |  Brussels 

ArcelorMittal, the world's largest producer of steel, forecast on Friday its profit would fall in 2015, rather than improve as expected, as iron ore prices sapped mining earnings and steel market growth cooled from last year. The group, an important indicator for the health of the global economy, said global steel consumption would grow by between 1.5 and 2% in 2015, a slowdown from expansion of about 2.5% last year. ArcelorMittal was especially bearish about the United States, its second largest market, where it saw steel demand decreasing by up to 1%. ArcelorMittal said ...

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First Published: Fri, February 13 2015. 12:23 IST