Surprisingly or not, ArcelorMittal S.A. informed that it recorded a net loss of around $345 million for the first quarter ended March as the giant steelmaker has been facing though market conditions, including low demand for steel. Despite the first-quarter net loss, the world’s largest steelmaker has not revised its projections for the ongoing year as it expects that steel and iron ore sales will substantially surge in the near future on growing demand from the world’s second economy. But the fact is that the company’s restructuring attempts have also brought a ray of hope while the steel markets has finally started stabilizing.
On the 6th of February, ArcelorMittal SA informed that it reported a big loss for the final quarter due to weak Europe’s demand for steel and write-downs in the value of its assets. However, the world’s largest steelmaker informed that demand for steel would improve in 2013. Also the company’s earnings are expected to improve during the year.