ArcelorMittal also competes with other international steel companies like Tata Steel and U.S. Steel.
ArcelorMittal is trying to improve its profitability through vertical integration, consolidation and geographical diversification.
FORBES: ArcelorMittal Faces Trial By Fire As Global Steel Industry Wavers
"We have effectively a better position than many other steel companies, " an ArcelorMittal spokesman said.
Hence, competition in steel pricing can prove harmful for ArcelorMittal if steel demand drops or remains constant.
Since then, however, ArcelorMittal has confirmed the partial closure, transferring nearly 600 workers elsewhere within the company.
ArcelorMittal has shut many of its European plants due to weak demand and may have to shut more.
Lakshmi Mittal is not a target of the investigation and ArcelorMittal currently has no direct connection with Ispat.
ArcelorMittal cannot afford to keep the blast furnaces open, even in a mothballed state as they are now.
FORBES: How Will The ArcelorMittal-France Standoff Play Out?
The observation tower, the 115m (377ft) ArcelorMittal Orbit, expects to attract up to a million visitors a year.
When contacted, an ArcelorMittal spokeperson said the company wished to make no comment.
"It opens the mind-set to the global challenges, " says Mr. Callaghan of ArcelorMittal.
ArcelorMittal produces over 100 million metric tons of steel annually and has operations in 20 countries on four continents.
Peabody beat out global giants like Vale, Xstrata, and new partner ArcelorMittal, as well as Korean and Japanese interests.
However, ArcelorMittal said its own investments in iron ore would help its position.
ArcelorMittal continues to add value by increasing self-sufficiency and producing more of its iron ore and coal requirements in house.
ArcelorMittal SA shares are currently trading down about 1.3% on the day.
ArcelorMittal SA shares are currently trading down about 4.8% on the day.
Cliffs Natural Resources and ArcelorMittal settled their year-long dispute regarding the pricing of iron ore pellets supplied in 2009 and 2010.
FORBES: Cliffs Cleans Up With ArcelorMittal Pellet Settlement
ArcelorMittal SA shares are currently trading down about 2.9% on the day.
Mittal is the founder of steel giant ArcelorMittal, headquartered in Luxembourg.
ArcelorMittal is by far the largest producer of steel in the world.
ArcelorMittal SA shares are currently trading up about 0.6% on the day.
However, sales declined to 7.7 million tons in 2009, as ArcelorMittal put limits to steel production to counter declining demand during that period.
FORBES: Cliffs Pushes Plenty O' Pellets, Lives And Dies With ArcelorMittal
Since the merger, ArcelorMittal has been expanding its reach through further acquisitions, most recently by announcing its purchase of Estonian steel firm Galvex.
ArcelorMittal estimated that shipments will decline in the second half of 2011 as industrial consumers built up their raw material inventories during the first half.
FORBES: ArcelorMittal Still Good For $22 Even With Lower Guidance
The ArcelorMittal Orbit Tower, a huge public art piece being built in the Olympic Park by sculpture Anish Kapoor, will probably remain open to the public as is.
ArcelorMittal is one of the largest steel companies in the world.
FORBES: 'Stop Bashing India', Gov't Official Tells Billionaire Mittal
The Ministry of Finance claimed that ArcelorMittal should, among other things, be paying Kazakh taxes on the income of a subsidiary in the United Arab Emirates.
The basic flaw with this seems to be that the French industry minister has built his whole case against ArcelorMittal on grounds of broken promises and commitments.
FORBES: How Will The ArcelorMittal-France Standoff Play Out?
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