 "arcelormittal, steel maker")
ArcelorMittal, the world's largest steelmaker, reported slightly higher than expected first-quarter profits, but sharply declining earnings in the second quarter because of the Covid-19 pandemic.
The Luxembourg-based company said on Thursday its first-quarter core profit (EBITDA), the figure most watched by the market, was $967 million, compared with the average forecast in a company poll of $867 million.
It forecast EBITDA would drop to between $400-$600 million, with steel shipments within a range of 13.5-14.5 million tonnes.
Net debt rose to $9.5 billion in
