BRUSSELS: ArcelorMittal, the world’s largest steelmaker, reported higher profit than expected in the third quarter, boosted by increasing iron ore shipments and cost savings, and declared it was through the bottom of the cycle.
The company, which makes some 67% of global steel and is double the size of its nearest rival, said core profit (EBITDA) in the normally weaker second half would be at least equal to that of the first.
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