ArcelorMittal cuts 2014 outlook on iron ore price fall

BRUSSELS Fri Aug 1, 2014 1:20am EDT

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BRUSSELS Aug 1 (Reuters) - ArcelorMittal, the world's largest steelmaker, cut its forecast for earnings this year after lower than anticipated iron ore prices ate into the profit of its mining business.

The company, which makes about 6 percent of world steel and is a broad gauge for the health of global manufacturing, said it now expected core profit to be above $7 billion, having previously given a figure of about $8 billion for the full year. (Reporting By Philip Blenkinsop)