The gross operating surplus is is restated to 2

Steel demand resumes, stocks are replenished, prices follow an upward trend, but ArcelorMittal remains cautious on future profits. The first global steelmaker expects to achieve a surplus less than the 2.5 billion expected by analysts, gross operating between 1.8 and $ 2.2 billion in the first quarter which brought the title of 6.94 yesterday.

Two explanations for this disappointing forecast: a temporary decline in prices and an increase in costs related to restart facilities sleep during the crisis. "The second quarter should be better under the effect of a recovery in prices," said Lakshmi Mittal, the boss of the group. And its European competitors, ArcelorMittal is best placed to take advantage, due to its high exposure to the cash market and its low dependence on external sources of supply. After HSBC analysts, the Group may, with its mines, meet 50 of its needs in iron and 15 in coal. It will therefore be less concerned than other European steel producers by being able to transfer the increase of contents first on its customers.

ArcelorMittal has benefited from a strong recovery of the application year 2009, which allowed him to identify a sales and a gross operating in the last quarter surplus in line with the expectations of analysts. The production of the last three months of the year reached 20 million tonnes, for a total of 70 million in 2009. The gross operating surplus is is restated to $ 2.1 billion, an increase of 34 over the third quarter, but down 24 over the same period the previous year. On the whole year, the operational losses reach 1.7 billion. Prospects improved benefits to all steel, Tata Steel, which returned profits last month, to ThyssenKrupp, which recently raised its forecasts for the first quarter of its fiscal year offset.

"The recovery is on track, but it will remain slow and gradual in industrialized countries," says Lakshmi Mittal. Steel producer provides an increase in demand of 10 in the world this year, including 5 for China, 15 for other emerging countries and 15 to 18 per cent for industrialized countries, but the basis of comparison is low.

11 Of the workforce reduction

In this last area, "the market will gradually be reduced to the level of 2008, but is still far from the figures of 2007". So far, Europe would not be in a situation of overcapacity. "This is the case of China, but not of Europe, because this is years that we have not increased capabilities." "Europe was overcapacity during the crisis, but it is more in 2012 or 2013."

ArcelorMittal account employees under 34,000 by end of 2008, which corresponds to a close its workforce reduction of 11. These restructurings have allowed the group to be in line with its objective of reducing its fixed costs of here $ 5 billion in 2012. ArcelorMittal says not interested in Lucchini, Italian subsidiary Russian Severstal wants to assign and including holding Ascometal in France.

In view of the rebound in demand, the plants on the Continent will get back into running order. During the crisis, the Group has toured with ten blast out of a total of 25 in Europe. He now plans to work with 20 fours. The capacity utilisation rate, 50 there is a little less than a year, is up to 70 end 2009 and expected to reach 75 at end of March.