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.
ArcelorMittal SA, a global steel company, is exploring a sale of a 30 percents stake in its Canadian iron ore business, according to a source familiar with the matter. The world’s biggest steelmaker struggles to cope with the downturn as demand in Europe and China visibly decreased. ArcelorMittal stake in Canadian iron ore business is valued at approximately $10 billion.