ArcelorMittal expects steel production in China to increase by as much as 10% in 2009 compared to 2008 because the domestic market and demand are strong, chief executive Lakshmi Mittal said last week.
This contrasts with the company’s expectations for the rest of the world. In Europe, steel consumption may decline by more than 20% this year, in the US it could fall by about 20%, and overall outside China it will decline by 15-20%, Mittal forecast.
