ArcelorMittal cut market outlook on China, Russia
BRUSSELS May 9 (Reuters) - ArcelorMittal, the world's largest steelmaker, trimmed its forecast for global steel consumption on Friday as a more pronounced slowdown in China and a decline in Russia outweighed growing optimism about Europe.
The company, which makes 6-7 percent of the world's steel and is a broad gauge for the health of global manufacturing, said apparent steel consumption, which includes inventory changes, should increase by between 3.0 and 3.5 percent in 2014.
That compared with its previous forecast for growth of between 3.5 and 4 percent and last year's expansion of about 3.5 percent. (Reporting By Philip Blenkinsop)
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