ArcelorMittal predicts steel bounce-back

Market bottom reached as iron ore restocking signals second half recovery, says steel giant

Michelle Wiese Bockmann - Thursday 12 February 2009

ARCELORMITTAL, one of the most prominent defaulters of dry bulk shipping contracts, has forecast a second-quarter recovery in the steel industry, citing recent iron ore restocking that has seen some freight rates double in the last week.

The world’s largest steel producer “suspended” an undisclosed number of cost and freight cont...

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