CHINA NOT A STEAL WITH MITTAL

ArcelorMittal, the world's top steelmaker, said yesterday emerging markets will continue to drive global demand for steel, but it faces obstacles in China where it wants to expand through acquisitions. Lakshmi Mittal, chairman and chief executive of the firm, said he expects the steel industry to grow at a rate of 3 to 5% a year despite the ongoing credit crisis.

ArcelorMittal, the world's top steelmaker, said yesterday emerging markets will continue to drive global demand for steel, but it faces obstacles in China where it wants to expand through acquisitions. Lakshmi Mittal, chairman and chief executive of the firm, said he expects the steel industry to grow at a rate of 3 to 5% a year despite the ongoing credit crisis.

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