ArcelorMittal Q3 net dips 29 per cent

We are seeing a marginal decline in shipments compared to Q3 8230; Clearly we are seeing more drops in shipments in Europe than North America, Chief Financial Officer Aditya Mittal said,adding that markets in Asia,Africa,the former Soviet Union and Brazil were holding up better.

The Luxembourg-based company said its core profit EBITDA fell 29 percent in the third quarter from the second to 2.41 billion,at the bottom of its previous guided range. It said it still believed core profit would be higher in the second half of 2011 than a year earlier,when a sharp slowdown and a margin squeeze led to a fourth-quarter loss.

It,however,did not give specific core profit guidance about the following quarter.