A red-hot steel plate passes through a press at the ArcelorMittal steel plant in Ghent, Belgium, July 7, 2016. REUTERS/Francois Lenoir/File Photo Acquire Licensing Rights
BRUSSELS, Nov 9 (Reuters) – ArcelorMittal, the world’s second-largest steelmaker, “continued to demonstrate structurally improved profitability,” it said on Thursday after reporting higher-than-expected third-quarter earnings.
The group said it still expected global steel demand excluding China to grow by between 1% and 2% this year, but sees demand in Europe below previous guidance of -0.5% due to weak construction activity there.
The Luxembourg-based company said third-quarter core profit (EBITDA) was $1.87 billion, higher than the average analyst forecast of $1.8 billion in a company poll.
Reporting by Marine Strauss; Editing by Christopher Cushing
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