Economics
Steel Slows With Europe Setting Back ArcelorMittal: Commodities
This article is for subscribers only.
Steel demand worldwide is growing slower than forecast, eroding profit at producers including ArcelorMittal and Tata Steel Ltd. and forcing investors to revise their 2012 outlook for the $430 billion industry.
Global use of the alloy will rise 4.5 percent this year, less than the 5.4 percent forecast in October by the World Steel Association, according to the median estimate of 14 steelmakers, analysts and traders surveyed by Bloomberg. Growth may be as low as 1.2 percent, according to Bloomberg Industries analysts.