Subscribe to RSS feedBiggest steelmaker sees new hope
Arcelormittal, one of the most prominent defaulters of dry bulk shipping contracts, has forecast a second-quarter recovery in the steel industry, citing recent iron ore restocking that has seen some freight rates double.
The world's largest steel producer suspended an undisclosed number of cost and freight contracts with shipowners in November as it revealed a 34% production cutback for this year.
But last week, chairman Lakshmi Mittal said January and February was...
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