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Tuesday, January 25, 2011

ArcelorMittal sees slow recovery of developed demand, (ISPA)

Demand for steel in the developed world will only return to pre-crisis levels in 2015, the head of the world's largest steelmaker said on Tuesday. Lakshmi Mittal, speaking after an investor meeting to approve the spin-off of ArcelorMittal's (ISPA.AS) stainless business, said he believed global growth in output would slow to 6 to 6.5 percent this year, from some 15 percent in 2010. Chinese growth would temper to 6.5 to 7 percent from some 9 percent last year.

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