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ArcelorMittal (MT +4%) opens higher after posting a strong operational quarter despite the...

ArcelorMittal (MT +4%) opens higher after posting a strong operational quarter despite the difficult environment. Liquidity increased to $18B from $14.5B Q/Q, and net debt fell by $3.8B due primarily to capital market transactions and proceeds from asset sales. Full-year EBITDA guidance of $7.1B is unchanged, though it assumes iron ore prices and steel margins over raw materials are similar to 2012 levels.
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