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ArcelorMittal anticipates recovery demand of stainless

16 Nov 2007 11:11 reported by Judy Lin

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According to the presentation of third quarter result of ArcelorMittal, the board member reports that stainless steel demand has been improved and is likely turning better by early 2008.

Due to the high import volume to Europe and continuous destocking actions by stainless steel consumers and stockiest, ArcelorMittal reported a 21 percent down in stainless deliveries to 432,000 tons during the third quarter compared to it was 544,000 tons in the second quarter.

The lower shipment volumes also came along with lower average selling price over third quarter. However, the company also tried to substitute more production with non-nickel bearing grades to resist record nickel prices. The third quarter income is down to US$151 million from US$237 million of previous quarter.

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