ArcelorMittal sees debt threat on steel demand in Europe

Friday, 07 May 2010

A senior executive of ArcelorMittal told a Metal Bulletin iron ore conference that steel demand in Europe could be hit by the debt problems in the euro zone, but would not have a huge impact on the overall growth forecasts.

Mr Bill Scotting head of strategy of ArcelorMittal said “This thing could impact Europe a little on the downside. But it will not have a huge impact on the forecasts out there.”

He added that “The concerns of debt, both government and consumer, this is what's behind our expectations of relatively low growth in these developed world countries.”