ArcelorMittal Cuts Profit Target as Demand for Steel Weakens
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ArcelorMittal, the world’s biggest steelmaker, cut its full-year profit forecast on weaker steel demand in the U.S. and Europe than previously expected.
Earnings before interest, taxes, depreciation and amortization will be more than $6.5 billion, compared with the earlier figure of more than $7.1 billion, Luxembourg-based ArcelorMittal said today in a statement.