"I am satisfied with the first-quarter results, which reflect the anticipated positive momentum in the market and the progress we are making internally to make the business stronger," said chief executive Lakshmi Mittal. "All parts of the business" reported an improvement in underlying earnings, Mittal said. "Steel prices responded to higher raw material costs and strong volume growth saw steel shipments increase by 5.1 per cent compared with the fourth quarter. "Looking ahead, ArcelorMittal expected market conditions "to be broadly stable in the second quarter," the CEO continued. "While this is encouraging, the steel industry is still impacted by unfair imports in many of our key markets and we hope to see further progress in ensuring the necessary trade solutions," he added.

Source: Economic Times May 12, 2017 06:13 UTC