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ArcelorMittal reports net loss of USD 728 million in Q1, cuts capex to $3bn

ArcelorMittal, world’s largest steel company, on Thursday reported a net loss of $728 million for the first quarter ended March 31 on account of currency headwinds as well as declining iron ore prices. “The company, controlled by NRI billionaire Lakshmi Mittal, had reported a net loss of $205 million in the year-ago period”, it said…

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