Mittal sees strong iron ore, scrap prices
The head of Arcelor Mittal , the world's largest steelmaker, said on Wednesday he saw no weakness in raw material prices as a result of the stock market slide in China.
By PTI |
FLEMALLE: The head of Arcelor Mittal , the world's largest steelmaker, said on Wednesday he saw no weakness in raw material prices as a result of the stock market slide in China.
"Some of the commodity prices may fall, but scrap or iron ore prices have already been announced. I don't see the weakness there," Chief Executive Lakshmi Mittal said on the sidelines of a news conference in the eastern city of Liege.
Mittal was in Flemalle, near Liege, to discuss the planned closure of a blast furnace there with unions and local authorities.
He said he was reconsidering whether to go ahead with the closure in 2007.
"In view of the argument of the unions, I promised I would think about it once again," he said.
He added he would look at market conditions, but stressed he did not want to give false hope to workers.
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