The Luxembourg-based company Thursday posted a net loss of USD 193 million, compared to a loss of USD 642 million in the same period a year ago.
Revenues fell 0.5 percent to USD 19.6 billion, due to lower average selling prices. Volumes increased 1 percent to 21.1 million metric tons.
Operating income earnings before interest and taxes recovered to USD 477 million from USD 55 million, with interest costs from the company's USD 17-billion debt burden the main reason for the net loss.
CEO Lakshmi Mittal says he believes "the bottom of the cycle is behind us" and he sees signs of a further recovery in 2014.


Latest News  from Business News Desk