Arcelor Mittal's Q2 core profit above expectations

Arcelor Mittal, the world's largest steelmaker, reported second-quarter core profits above market expectations on Wednesday on the back of strong demand and higher selling prices for its products.

Earnings before interest, tax, depreciation and amortisation rose to $5.326 billion from a pro-forma figure of $3.500 billion a year ago. The average forecast given in a Reuters poll of eight analysts was $4.65 billion.