Article: Top steel company announces profit after nine-month loss

Top steel company announces profit after nine-month loss

PARIS, Oct. 28 (Xinhua) -- World top steel company ArcelorMittal, based in Luxembourg, announced Wednesday the first profit of 903 million U.S. dollars for the third quarter after nine-month consecutive loss.

Due to combined initiatives including selected growth projects in key emerging markets, adjusted financial policy and strategic investment, the giant steel maker gained a net income of 903 million U.S. dollars, with shipments of 18.2 million tons, up seven percent from last quarter, the giant said in a statement.

"We have seen the first signs of recovery in the third quarter . .. and we expect fourth quarter crude steel ...

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