Losses appeared in the world's largest steel producer

The world's largest steel producer arcelor mittal (ArcelorMittal) and in the third quarter of this yearThe headquarters is located in the small country of northwest Europe Luxembourg steel producer, is the world's iron and steel industry "boss". On November 6, arcelor mittal (ArcelorMittal) released three quarterly reports, during a net loss of $700 million (4.448 billion yuan), the loss in nearly four times higher than previously expected.In the same period of last year, arcelormittal profit of $22 million (2.8261 million yuan).

In 2014, arcelormittal's crude steel output up to 98.088 million tons, accounting for 5.89% of global output, is almost a "second" living gold and Nippon steel production of "old" Hubei iron and steel group combined.

But is such a "big MAC", is still downward pressure to the industry and quote us huge losses. Arcelormittal chairman and chief executive lakshmi Mittal (LakshmiN. Mittal) in the report, said in recent months the company operating conditions are deteriorating, the main reason is that China's large iron and steel products export, international steel prices continue to decline.

"The international steel prices fell the most fundamental reason lies in the global economic slowdown."Against said above, analysts Hu Yanping told journalists interface, steel sharpening contradictions between the supply and demand, demand, leading to a fall in iron and steel companies with excess capacity."China's large low-priced exports is caused no small impact to global hong kong-listed, but not the most important factor."She said.

Mittal said arcelor mittal has adopted a series of authors efficiency measures, the cost of mining sector has been reduced by 17%, exceeded 15% of the previous set goals, and debt also fell by $1 billion last year (6.354 billion yuan).