November 8, 2016 / 6:21 AM / a year ago

ArcelorMittal sees very modest growth of steel consumption in 2016

BRUSSELS, Nov 8 (Reuters) - ArcelorMittal said on Tuesday it saw apparent steel consumption growing this year by about 0.5 percent, similar to its previous forecast of between zero and 0.5 percent.

The world’s largest steelmaker increased its forecast for growth of consumption, including changes in stock levels, in the European Union and forecast growth rather than decline in China.

It also cuts its forecast for growth of consumption in the United States and saw a much worse decline in Brazil. (Reporting by Philip Blenkinsop)

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