ArcelorMittal has reported its highest quarterly profit since 2008 as the boom in steel prices helped the world’s largest producer shrug off weaker demand from carmakers.
The Luxembourg-based group made profits of $6.1bn in the third quarter, 19.9 per cent higher than in the second quarter, its previous record since 2008, although slightly below analysts’ expectations.
Net debt in the quarter fell to $3.9bn, its lowest level since 2008. Sales were also higher at $20.2bn.
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