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ArcelorMittal to reduce the company's revenues to blame the sector stainless steel

2 August 2011
ArcelorMittal to reduce the company's revenues to blame the sector stainless steel

Despite the fact that on the results of ArcelorMittal in April-June this year, the sales volumes of the company witnessed a growth in the net income of the Corporation continues to decline. So the company’s net profit for the reporting period fell to $1.54 billion, reaching rates of progression in 11%. On approval of the management of ArcelorMittal, basically, this fact is explained by lower income from commercial operations with stainless steel. In General, the expected reduction in the level of net profit in this period the leadership of the ArcelorMittal failed to compensate for increased prices for their own products. Through these actions, the company’s sales in the second quarter rose by a quarter to $25,13 billion if not to take into account the trade stainless metal, the overall profitability seems not so significant — only 2.8%.According to analysts at ArcelorMittal in the third quarter of 2011, the falling demand for metals will continue (this is a seasonal decline, «traditional» for the summer months). However, the decrease in the yield, in their opinion, will not be as noticeable as it was in the same period of 2010, and overall performance of the company will be much more positive. ArcelorMittal is the largest steel company in the world, formed as a result of the merger of two steel giants: the Indian campaign Mittal Steel and Arcelor of Luxembourg. In Europe and Brazil power Corporation to produce stainless steel are of the order of 2.5 million tons per year.

1 August 2011
3 August 2011