ArcelorMittal Posts $955 Million Loss, ThyssenKrupp Barely Shows a Profit

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The world’s largest steel maker, ArcelorMittal, reported on Friday a $955 million loss for the fourth quarter, highlighting the difficulty of making money in slumping commodities businesses such as steel and iron ore.

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The company’s large mining operations were hit by the sharp fall in iron ore prices, while its North American steel unit also slowed. The Luxembourg-based steelmaker’s write-off of $621 million on its investment in China Oriental, a Chinese steel business, was another big contributor to the loss.

 

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