Lakshmi Mittal, chief executive officer of the world's largest steel company ArcelorMittal, has said that the company's order book is expected to increase in the third quarter of the current year.
Mr Mittal said, "The seasonal sluggishness is not likely to occur this year. Considering the currently low inventory level and increasing potential demand, our order book tonnage will probably increase in Q3."
He also stated that, while the steel markets in developed countries still show signs of weakness, Chinese steel demand is expected to grow by seven percent year on year in 2011. He predicted that the economies of developed countries will recover to pre-crisis levels by 2015.