Last year, the company posted profits of 1.9 billion dollars. Chief executive Lakshmi Mittal said it was a challenge created by over-capacity in the sector, arguing that too much steel was being produced. He said he now expected global steel demand to rise between 0.5% and 1.5% in 2019, from a previous forecast of 1%-1.5%, after steel profitability was affected by lower steel prices and higher raw material costs.
