ArcelorMittal income narrows in Americas unit
Oct 31, 2012 | 01:53 PM
| Michael Cowden
Tags
ArcelorMittal,
steel,
long steel,
flat-rolled steel,
iron ore,
Michael Cowden
CHICAGO – ArcelorMittal SA’s
operations in North America were hit by lower selling prices in the third
quarter as global economic uncertainties continued to wallop the company,
according to earnings data released Wednesday.
The Luxembourg-based
steelmaker’s Flat Carbon Americas division recorded operating income of just $3
million in the three months ended Sept. 30, down 98.4 percent from operating
income of $193 million in the year-ago quarter. Sales slipped about 12 percent
to roughly $4.84 billion in the same comparison.
The decline came as the
division’s operating income per tonne slid to just $1 in the third quarter of
2012, compared with $43 per tonne in the second quarter and $34 per tonne in
the third quarter of 2011, according to earnings data.....
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