Steel Mills
May 8, 2016
ArcelorMittal Narrows Losses in Q1
Written by Sandy Williams
ArcelorMittal narrowed its losses in first quarter 2015 to $416 million from $728 million a year ago. Total steel shipments for the company were 21.5 million tonnes.
“Clearly, the market conditions have improved since we reported full year results in early February. Rising steel prices in China have supported prices globally and this has been further supported by the rebound in iron ore and the steel scrap prices. In terms of the short-term demand outlook, for our core markets, this remains positive,” said CEO Lakshmi Mittal.
