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Mittal bullish on steel outlook

Supply constraints and strong demand would put a firm floor under prices and profits for the steel industry until at least 2011, Lakshmi Mittal forecast on Wednesday.

Mr Mittal, the main shareholder of ArcelorMittal with a 45 per cent stake, said the steel industry was in a “strong and sustainable position” over the next three to four years. While there is a slowdown and softness in some markets, in particular in southern Europe and the US, I don’t see any major weakness in overall levels of demand,” the chairman and chief executive of ArcelorMittal told the Financial Times.

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http://www.ft.com/cms/s/0/5281f89e-5e02-11dd-b354-000077b07658.html