said second-quarter profit fell 11% but the biggest steelmaker in the world said it expects steel shipments in the second half of 2011 to rise from a year earlier.
ArcelorMittal earned $1.54 billion versus $1.71 billion in the year-earlier second quarter, which included a one-time gain of $555 million related to convertible bonds.
Second-quarter sales rose almost 25% to $25.13 billion.
In a statement Wednesday, the company said "due to the continued underlying demand recovery, steel shipments in the second half 2011 are expected to be higher than the same period of 2010."
ArcelorMittal also said it expects its mining business to "further improve due to increased production and shipments."
Lakshmi Mittal, ArcelorMittal chairman and CEO, said the third quarter will experience some seasonal impact, but not as pronounced as last year, and "overall the group's performance in the second half of 2011 should compare favorably with the second half of 2010."
on Monday reported lower-than-expected profit and revenue in the second quarter, and said it expects lower operating profit in the third quarter.
-- Written by Joseph Woelfel
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