ArcelorMittal (MT) Wednesday said its Flat Carbon European segment incurred an operating loss of 2.21 billion euros in the fourth quarter, hurt mainly by lower sales.
Sales dropped 2.8 percent to 4.7 billion euros from 4.8 billion euros in the previous quarter, reflecting weak demand for steel.
Apparent steel demand in the European Union is estimated to have declined 3 percent and 9 percent, respectively, for the fourth quarter and full-year.
The segment's crude steel production fell 5.1 percent from last year, due mainly to lower inventory levels and output.
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