ArcelorMittal Warns on Steel Demand as China Seen Flatlining
- Consumption in Europe and US to climb as inventories rebuilt
- Profit at biggest steelmaker outside China fell in 2022
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ArcelorMittal SA cautioned on the outlook for steel demand, noting the woes of the Chinese real estate sector and tighter monetary policy could drag on consumption this year.
Whether China will recover strongly after lifting tough coronavirus restrictions has been the key question for commodities markets. Industrial metals surged at the start of the year on bets of higher demand from the world’s top consumer, but have since stalled as investors wait for concrete signs of a rebound.