Wednesday, February 09,
Arcelor Mittal , the world’s largest steelmaker, forecast a faster than expected recovery in demand and prices at the start of 2011 after a margin squeeze in the fourth quarter.
Chief Financial Officer Aditya Mittal said ArcelorMittal was seeing a strong recovery in the United States, moderate growth in China and restocking in Europe even though enduser demand was barely increasing there.
He said the second quarter should be stronger than the first, when Arcelor Mittal’s furnaces would run at 76 percent of capacity, compared with 69 percent at the end of 2010.
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