ArcelorMittal takes dimmer view of U.S., Europe metal demand

FILE PHOTO: A red-hot metal plate passes by a press on the ArcelorMittal metal plant in Ghent, Belgium, July 7, 2016. REUTERS/Francois Lenoir

BRUSSELS (Reuters) – ArcelorMittal, the world’s largest steelmaker, reported core earnings barely above market estimates on Thursday, however took a dimmer view of demand in its important U.S. and European markets.

The Luxembourg-based firm, which produces round 5% of world metal, mentioned its core revenue (EBITDA) within the third quarter was $1.06 billion, in contrast with the common forecast in an organization ballot of $930 million.

Reporting by Philip Blenkinsop; Enhancing by Kim Coghill

Author: Maxwell C.

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