Wednesday, 26 Jan 2011 Reuters reported that ArcelorMittal CEO said that the demand for steel in the developed world will only return to pre crisis levels in 2015.
Mr LN Mittal, speaking after an investor meeting to approve the spin off of ArcelorMittal's stainless business, said that he believed global growth in output would slow to 6% to 6.5% this year, from some 15% in 2010 and that the Chinese growth would temper to 6.5% to 7% from some 9% in 2010.
He said “To come back to before the 2008 crisis, it will not be before 2015. The developed market demand still has a long way to go.”
He added that “I think American demand will improve more than the European demand.”
Mr Mittal said he believed emerging market growth would be some 7% to 8% and developed world expansion around 4%.
(Sourced from Reuters)
Mr Mittal said he believed emerging market growth would be some 7% to 8% and developed world expansion around 4%.
(Sourced from Reuters)
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