UPDATE 2-ArcelorMittal cuts 2015 view on U.S. steel, weak mining

jueves 7 de mayo de 2015 04:37 GYT

* Q1 core profit (EBITDA) $1.38 bln vs consensus $1.43 bln

* Sees 2015 core profit $6-7 bln from previous $6.5-7 bln

* Cuts global steel market growth view to 0.5-1.5 pct (Adds CFO comments, analyst reaction, share price)

By Robert-Jan Bartunek

BRUSSELS, May 7 (Reuters) - ArcelorMittal, the world's largest producer of steel, on Thursday cut its profit forecast for 2015 due to a more bearish view of the U.S. steel market and the impact of falling iron ore prices on its mining business.

The company said it expected its 2015 core profit to come in between $6 billion and $7 billion. It had previously set a range of $6.5 billion to $7 billion.

In the first quarter, core profit (EBITDA) fell 21 percent to $1.38 million, below the $1.43 million expected in a Reuters poll of nine analysts.

Its steel operations were hit by the U.S. market, where imports increased and demand fell, largely due to destocking of inventories.

"When you look at exports to the United States at the beginning of the year, clearly there was a surge. The main driver was the price differential, there was an enormous incentive to attract imports," Chief Financial Officer Aditya Mittal told a conference call.   Continuación...