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Steel demand ‘collapses’: ArcelorMittal

Posted on 12 February 2009

From Thewest.com.au: ArcelorMittal, the world’s biggest steel group, reported a huge loss on Wednesday for the last quarter of 2008 and said it would slash production and jobs this year as demand plummets.

For the final three months of 2008, the group reported an operating loss of $US3.5 billion ($A5.35 billion) on falling demand and writedowns on stock in contrast to an operating profit of $US3.3 billion ($A5.04 billion) in the equivalent period of 2007….. Full Article: Source


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