ArcelorMittal has reported a net loss of US$400m in the first quarter (Q1) of 2016 as a result of increasingly unfavourable market conditions toward the end of 2015. In the first nine months of last year, Chinese steel exports rose 31% year-on-year, with excess capacity shipped elsewhere at significantly lower costs compared to US and European prices.
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Already a member?