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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