ArcelorMittal Eyes 4Q Steel Shipments Up; Debt Crisis A Concern
27 Luglio 2011 - 10:39AM
Dow Jones News
ArcelorMittal (MT), the world's largest steelmaker, expects
steel shipments to rise in the fourth quarter after dipping in the
third quarter due to a seasonal slowdown, the company's chief
financial officer said Wednesday.
However, Aditya Mittal noted that the U.S. and EU debt crisis
could dampen any pickup in fourth quarter steel shipments.
"If there was significant shock to the system, the fourth
quarter would be...severely affected," in terms of shipments,
Mittal said. "The macro environment has some impact because it
impacts consumer psychology," he added.
Mittal said the company operated at 78% of its full steel
capacity utilization rate in the second quarter and expects to
operate at a 75% utilization rate in the third quarter due to
seasonal factors such as summer holidays in the northern
hemisphere, which dampen steel demand.
ArcelorMittal operated at a 75% utilization rate in the first
quarter.
Demand is forecast to rise again in the fourth quarter partly
due to higher Japanese demand.
Steel shipments to developed markets were more muted earlier in
the year, partly due to a sudden drop in Japanese demand stemming
from the earthquake and tsunami that hit the country. That demand
is expected to return in a more pronounced way during the second
half of the year as Japan embarks on reconstruction.
The Japanese "disruption will translate into higher demand in
Q4" Mittal said.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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