ArcelorMittal’s losses narrow in 1st qtr.

May 10, 2013 | 04:44 PM | Catherine Ngai

Tags  ArcelorMittal, steel, Lakshmi Mittal, Luxembourg, Lou Schorsch

NEW YORK — ArcelorMittal SA recorded its third consecutive net loss in the first quarter on the back of challenging economic conditions but anticipates positive signs in the second half of the year, particularly in its Americas division.

The Luxembourg-based steelmaker’s first-quarter net loss totaled $345 million, a marked improvement from the $3.8-billion loss recorded in the previous quarter but a far cry from the $92-million profit logged in the first quarter of 2012. Global sales were largely flat at nearly $19.8 billion vs. $19.3 billion in the fourth quarter and $19.7 billion in the year-ago period.....

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