ArcelorMittal profit beats expectations after lockdown easing
ArcelorMittal profit beats expectations after lockdown easing
The company, which makes around 5% of the world’s steel, said core profit fell 15% from a year earlier to $901 million, compared with an average expectation of $838 million in a company-compiled poll
The logo of ArcelorMittal, the world's largest producer of steel, is pictured in front of heat rising from a red-hot steel plate at the ArcelorMittal steel plant in Ghent, Belgium, 7 July, 2016/Reuters
ArcelorMittal, the world's largest steelmaker, reported third-quarter core profit above expectations on Thursday as the easing of Covid-19 lockdowns led to improved demand in all regions.
The company, which makes around 5% of the world's steel, said core profit (EBITDA) fell 15% from a year earlier to $901 million, compared with an average expectation of $838 million in a company-compiled poll.
