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ArcelorMittal Starts Year Better Than Expected

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ArcelorMittal, the world's largest steelmaker, reported higher than expected core earnings on Friday and maintained its forecast that it would make a greater profit this year than last.

The company, which makes some 6-7 per cent of global steel, said core profit (EBITDA) for the first three months totalled $1.565 billion, down 26 per cent year-on-year, but substantially higher than the average $1.36 billion expected in a Reuters poll.