ArcelorMittal lost a third of profits in the second quarter of 2012

Acerlormittal, a universally recognized world leader in metallurgical production, announced a fall in the second quarter of 2012 by 28%, Reuters reports. The reason for such a dramatic income fall, Acerlormittal considers a general decrease in the global economy and, as a result, the collapse of the demand for metal rolling.

The declared profit of Acerlormittal in the second quarter of this year before tax was $ 2.4 billion. The company's analysts predict further stagnation for steel and, respectively, the profitability of the metallurgical business will remain in the second half of the year the same as in the first.