The company's net loss fell from
The company expects its core profits to rise 16 percent to
Fourth-quarter net losses narrowed to
The steel sector suffered from declining demand during the economic downtown, which hit profit margins. The steelmaker has reduced costs and closed plants to weather the slump in demand. It has cut more than
In November, the company said the worst of the cycle had past and announced plans with
Shares for the company rose more than 3 percent.
Despite forecasting slower sales in
"The measures we have implemented to strengthen the business continue to yield positive results. In 2013 we delivered an 11 percent underlying increase in EBITDA, positive free cash flow and ended the year with net debt at the lowest level since the creation of
"The improvement in the overall economic situation led us to re-start some selected steel growth projects. In addition, we have expanded our ability to serve the growing NAFTA automotive and energy steel markets through our agreement to acquire
"We are cautiously optimistic about the outlook for 2014 and expect EBITDA for the full year to improve to approximately
The company, seen as barometer for manufacturing health, said it expected a 3.5 percent-4 percent rise in global steel consumption in 2014.
The company also said on Friday that capital spending would rise in 2014.
This would include
In addition, the company is targeting ramp-up of expanded capacity at AMMC completed with run-rate of 24 Mt achieved by year-end 2013; Phase II expansion of
The construction sector is the single biggest user of steel, and economic surveys suggest that building activity is picking up, especially in the US.
Shares in Arcelor, which is based in
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