ArcelorMittal to study new plant in Brazil

LONDON, Nov 16 (Reuters) - ArcelorMittal (ISPA.AS) is seriously considering a feasibility study for a new steel plant in Brazil as it sees strong demand prospects in the country, a senior executive at the company said on Monday.

"We're particularly excited for BRIC countries," Michel Wurth, member of the group management board told a steel conference organized by Metal Bulletin. BRIC stands for Brazil, Russia, India and China.

"We are committed to a significant investment in Brazil...We're also looking very seriously for feasibility study for a new steel plant there," he said, without giving details.

Wurth said he expected improvement in global demand in 2010, but still predicted demand in the developed world will be 25 percent lower next year compared with the peak in 2008. (Reporting by Humeyra Pamuk, Editing by Anthony Barker)