ArcelorMittal Sees Global Steel Demand Drop on Ukraine War
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A worker in a rolling mill at the ArcelorMittal SA Ghent steel plant in Ghent, Belgium, earlier in March.
Photographer: Valeria Mongelli/BloombergThis article is for subscribers only.
ArcelorMittal SA expects global steel consumption to contract this year as Russia’s invasion of Ukraine slows the economic rebound from the pandemic.
Demand for steel -- a key barometer for global economic growth -- will fall by as much as 1% this year, the company said in a statement Thursday. ArcelorMittal said before the war that it saw consumption steady or growing slightly in 2022.