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Steelmaker ArcelorMittal sees sales rising in 2014 thanks to recoveries in Europe, US

AMSTERDAM - ArcelorMittal SA, the world's largest steelmaker, says it expects shipments of steel and iron ore to rise in 2014 as recoveries in the US and Europe will matter more than slowing growth in emerging markets. While reporting fourth-quarter earnings, the company said it expects global steel consumption to grow 3.5 per cent in 2014. It said a recovery in European manufacturing seen in the second half of 2013 should continue and consumption will rise 2 per cent in 2014. It sees U.S. consumption up 4 per cent in 2014. Both declined last year.

Steelmaker ArcelorMittal sees sales rising in 2014 thanks to recoveries in Europe, US

AMSTERDAM - ArcelorMittal SA, the world's largest steelmaker, says it expects shipments of steel and iron ore to rise in 2014 as recoveries in the US and Europe will matter more than slowing growth in emerging markets. While reporting fourth-quarter earnings, the company said it expects global steel consumption to grow 3.5 per cent in 2014. It said a recovery in European manufacturing seen in the second half of 2013 should continue and consumption will rise 2 per cent in 2014. It sees U.S. consumption up 4 per cent in 2014. Both declined last year.

ArcelorMittal reports loss down, operating profit up

Steel-making giant ArcelorMittal on Friday reported a big cut in its net loss last year and turned in surprisingly strong operating and debt-reduction figures. The net loss fell by 24.0 percent from the 2012 level to $2.5 billion (1.84 billion euros) from $3.4 billion, the company said in a statement. This was despite a fall in sales by 5.6 percent to $79.4 billion. The steel market, notably in Europe, was hard hit by the economic downturn, but the group said that it faced 2014 with guarded optimism.

ArcelorMittal reports loss down, operating profit up

Steel-making giant ArcelorMittal on Friday reported a big cut in its net loss last year and turned in surprisingly strong operating and debt-reduction figures. The net loss fell by 24.0 percent from the 2012 level to $2.5 billion (1.84 billion euros) from $3.4 billion, the company said in a statement. This was despite a fall in sales by 5.6 percent to $79.4 billion. The steel market, notably in Europe, was hard hit by the economic downturn, but the group said that it faced 2014 with guarded optimism.

ArcelorMittal says U.S. buy won't impact $15 billion debt target

BRUSSELS (Reuters) - ArcelorMittal's <ISPA.AS> acquisition of a U.S. plant jointly with Nippon Steel & Sumitomo Metal Corp <5401.T> will not affect the world No. 1 steelmaker's debt targets, ArcelorMittal's chief executive said on Sunday. ArcelorMittal unveiled the $1.55 billion takeover of ThyssenKrupp's <TKAG.DE> U.S. steel finishing plant in Calvert, Alabama, on Friday, saying it would finance the deal via equity and debt at the joint venture level.

Steelmaker ArcelorMittal says it's turning corner as earnings rise

By Philip Blenkinsop BRUSSELS (Reuters) - ArcelorMittal <ISPA.AS>, the world's largest steelmaker, said on Thursday its two-year slump was over and prospects for 2014 were looking up, after higher U.S. steel shipments and mining output boosted third-quarter profits. The company, which makes 6-7 percent of global steel and is a broad gauge for the health of the global manufacturing industry, said it believed it had passed the low point of the economic cycle.

ArcelorMittal cuts losses, sees light as steel cycle rises

ArcelorMittal has pulled out of the bottom of the slump in the global steel market, the group reported on Thursday, saying it had cut losses in the third quarter and holding targets for operations and debt. The net loss of the third quarter was cut by two thirds from the equivalent figure last year to $193 million (143 million euros)from $652 million. The price of shares in the group, by far the biggest steel-maker in the world, was showing a gain of 3.51 percent to 12.38 euros in early trading.

Hollande returns to face 'betrayed' Florange steel unions

By Gilbert Reilhac FLORANGE, France (Reuters) - President Francois Hollande, seeking to regain the support of steel workers angered over his failure to stave off redundancies, said on Thursday he would return to their plant every year to ensure promised investment went ahead. With his approval ratings at all-time lows and unemployment above 10 percent, Hollande is looking to traditional backers of his Socialist Party to stop the advance of the far-right National Front before municipal and European polls next year.

ArcelorMittal says loses arbitration case against Senegal

The Senegalese government has won an initial ruling in an international arbitration case concerning an iron mining project in the southeast of the country, steel giant ArcelorMittal said Wednesday. "The arbitral tribunal has now issued its first award and decided that Senegal is entitled to terminate the 2007 agreements" but the question of possible damages has yet to be considered, ArcelorMittal said of the ruling by the Paris-based Court of Arbitration of the International Chamber of Commerce.

ArcelorMittal says loses arbitration case against Senegal

The Senegalese government has won an initial ruling in an international arbitration case concerning an iron mining project in the southeast of the country, steel giant ArcelorMittal said Wednesday. "The arbitral tribunal has now issued its first award and decided that Senegal is entitled to terminate the 2007 agreements" but the question of possible damages has yet to be considered, ArcelorMittal said of the ruling by the Paris-based Court of Arbitration of the International Chamber of Commerce.
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