Arcelormittal SA Q1 total sales down 4.9% y/y

ArcelorMittal SA (ACL) has suffered a 4.9% decline in first-quarter sales on a year-on-year basis.

SA's biggest producer said on Thursday the decline in sales was due to lower exports following weak international markets.

Export sales decreased 43.1% to 206,000 tonnes from a year ago, while local sales lifted 13.1% to 873,000 tonnes.

"We expect trading conditions to remain difficult with challenges around steel pricing particularly in the export markets," the company said.

Source: BDpro