Mittal CEO doesn`t expect to cut production

“If the demand will start improving in the first quarter or the second quarter, we will increase production volumes,” Mittal said today in an interview in Almaty, Kazakhstan.

“We cut output by 35 percent, and it was very aggressive for us.”

ArcelorMittal stock has been punished in the last few months, in a period where commodity stocks plummeted. the stock declined 70 percent this year.

“Inventory levels are very low in the system,” Mittal said after a meeting between government officials and overseas investors in Kazakhstan. “I don’t think there will be an additional production cut.”