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ArcelorMittal Makes Better-Than-Forecaset Recovery in Second Quarter

Leading steelmaker ArcelorMittal (MT) on Friday announced a better-than-expected quarter-on-quarter improvement in sales and earnings as the prices of its products increased.

Core profit, or Ebitda, was $1.77 billion, up from $927 million in the previous quarter and well above the consensus estimates of $1.51 billion compiled by Bloomberg, or the $1.57 billion in a Reuters poll. Sales were $14.74 billion in the three months to June, an improvement on the $13.4 billion reported in the first...