ArcelorMittal Q1 net loss narrows to $205 mn

May 09 2014, 18:15 IST
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The company expects global apparent steel consumption to increase by approximately 3-3.5 per cent in 2014. Reuters The company expects global apparent steel consumption to increase by approximately 3-3.5 per cent in 2014. Reuters
SummaryArcelorMittal had clocked $345 million net loss during the January-March quarter of last year.

over the previous year, and marketable iron ore shipments going up by around 15 per cent.

In 2013, ArcelorMittal had revenues of USD 79.4 billion and crude steel production of 91.2 million tonnes, while own iron ore production reached 58.4 million tonnes.

The company hopes to spend USD 3.8-4 billion on capex in the current year.

During the quarter, in partnership with Nippon Steel & Sumitomo Metal Corporation, ArcelorMittal completed the USD 1.55 billion acquisition of ThyssenKrupp Steel USA, a steel processing plant in Calvert, Alabama.

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