The world's largest steelmaker and canstock supplier ArcelorMittal has reported a net loss of US$447 million for the second quarter (Q2) of 2019, compared with a profit of $1.87 billion a year earlier, following a sharp decline in steel prices and high raw material costs. Overall sales for Q2 were $19.28bn, down from $20bn a year earlier. "After a strong 2018, market conditions in the first half of 2019 have been very tough, with the profitability of our steel segments suffering due to lower steel prices combined with higher raw material costs," said Lakshmi Mittal, ArcelorMittal chairman and chief executive.
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