One of the largest steel producers in the world ArcelorMittal on Friday reported an increase in profit for the 3rd quarter 2014. Strong results of the metallurgical sector could neutralize the negative impact of the mining sector, which was associated with a fall in iron ore prices.
The company's profit in the latest quarter was $ 22 million, against 193 million loss for the same period of the last year and 52 million profit in the second quarter of this year. Improvement of the demand for the metal in North America and Europe has allowed the company to show strong growth. We expect further improved performance of the company on the background optimization in corporations and lower prices for raw materials. The growth potential is limited by 20-23% per year.