| From Brisbanetimes.com.au: ArcelorMittal, the world's biggest steel maker, posted a bigger than anticipated loss in the first quarter as plunging metals prices forced the company to cut the value of its inventories.
The net loss was $US1.06 bil-lion ($1.5 billion) compared with net income of $US2.37 billion a year earlier, the Luxembourg-based company said yesterday. The loss exceeded the median estimate of $US594 million from the five analyst forecasts compiled by Bloomberg. Sales slumped 49 per cent to $US15.1 billion.......Full Article: Source
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