ArcelorMittal forecasts up to 7.5% growth in demand this year

After a relatively prosperous 2017, European steelmaker ArcelorMittal is optimistic about its Brazilian operations this year and bets the economic recovery, particularly in the automotive and construction sectors, will keep bolstering steel demand. While reporting a net profit of $1.03 billion in the fourth quarter, from $403 million in the same period of 2016, the company forecasted 6.5% to 7.5% growth in apparent demand for steel products in Brazil, faster than all other regions where it operates. Apparent demand already rose 4.6% last year.

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