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BRIEF-Arcelormittal Q2 steel shipments up 2.5 pct
August 1, 2014 / 5:17 AM / 3 years ago

BRIEF-Arcelormittal Q2 steel shipments up 2.5 pct

Aug 1 (Reuters) - Arcelormittal SA :

* Net income of $0.1 billion in 2q 2014 as compared to a net loss of $0.8 billion in 2q 2013

* Q2 steel shipments of 21.5mt, an increase of 2.5% as compared to 2q 2013

* Q2 16.6 mt own iron ore production as compared to 15.0 mt in 2q 2013

* Previously announced 2014 guidance framework remains valid

* Now expects 2014 ebitda in excess of $7.0 billion

* Guidance assuming steel shipments increase by approximately 3% in 2014 as compared to 2013

* Guidance assumes marketable iron ore shipments increase by approximately 15% in 2014 as compared to 2013

* Guidance assumes iron ore price averages approximately $105/t (for 62% fe cfr china) during 2014

* Capital expenditure is expected to be approximately $3.8-4.0 billion for 2014

* Maintains its medium term net debt target of $15 billion

* Q2 sales $20704 million

* Have increased steel demand forecasts for markets iun europe and the us Source text for Eikon: Further company coverage:

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