INSUBCONTINENT EXCLUSIVE:
It shipped some 13.9 million tonnes of steel in the quarter, down 2 per cent from the same period a year.2 min read Last Updated : Aug 01
2024 | 11:25 PM IST
ArcelorMittal, the world's No
2 steelmaker, reported second-quarter core profit tumbled 38 per cent on low steel prices but the result was somewhat better than expected
13.9 million tonnes of steel in the quarter, down 2 per cent from the same period a year earlier but up 3.2 per cent from the first
higher than a company-compiled consensus
The results were also helped by lower costs, it said Net profit, however, came in some 20 per cent below consensus at $504 million due to a
cut its annual apparent global steel demand outside China to a range of 2.5 per cent to 3 per cent growth from the 3 per cent-4 per cent it
"overly concerned" by potential US election outcomes, highlighting the positive impact of policies on the sector during the Trump
headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a
syndicated feed.)First Published: Aug 01 2024 | 11:25 PMIST
