Economics

Weak demand weighs on ArcelorMittal's second quarter

ArcelorMittal SA, the world's largest steelmaker, has cut its forecasts for the full-year as it reported a fall in production, shipments and earnings during the second-quarter due to continued weak demand and low raw material prices.

01.08.2013

(AP) ArcelorMittal SA, the world's largest steelmaker, has cut its forecasts for the full-year as it reported a fall in production, shipments and earnings during the second-quarter due to continued weak demand and low raw material prices.

But the Luxembourg-based company says that the worst of a market downturn is behind it now and with the outlook in Europe improving, it expects a stronger second half.