ArcelorMittal steel giant 'optimistic' about 2014

Steel factory Steel manufacturing can be seen as an indicator of the world's economic health

Related Stories

ArcelorMittal, the world's biggest steelmaker, has forecast higher profits this year, driven by stronger sales in the US and Europe.

Despite forecasting slower sales in China and Brazil, the company's chief executive Lakshmi Mittal said he was "cautiously optimistic" about 2014.

Arcelor makes more than 5% of the world's steel, and is seen as a barometer of manufacturing's health.

The company also said on Friday that capital spending would rise in 2014.

The construction sector is the single biggest user of steel, and economic surveys suggest that building activity is picking up, especially in the US.

Mr Mittal said: "The improvement in the overall economic situation led us to re-start some selected steel growth projects."

Shares in Arcelor, which is based in Luxembourg and operates in 60 countries, were up more than 4% in early trading.

More on This Story

Related Stories

More Business stories

RSS

Features

  • The OfficeIn pictures

    Fifty landmark shows from 50 years of BBC Two


  • French luxury Tea House, Mariage Freres display of tea pots Tea for tu

    France falls back in love with tea - but don't expect a British cuppa


  • Peter MatthiessenPeter and Paddy

    Remembering two of the greatest travel writers


  • Chinese GPRace ace

    Lewis Hamilton builds edge in F1 championship BBC Sport


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.