Arcelor Mittal encouraged by Q3 results

Net income for Q3 was $0.9 billion or $0.60 per share. Sales stood at $16.2 billion, up in comparision on Q2 at $15.2 billion, however, this was a significant drop on the same quarter in 2008 which saw sales at $35.2 billion.  Despite the y-o-y drop in figures, Arcelor Mittal anticipate a strong increase in steel demand over the coming months to come on the back of the technical recovery as we see the end of de-stocking.  Although the steel market is volatile at present and difficult to forecast, AM foresee a steady sales recovery over the next 6 months.

 

 

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