Arcelor Mittal, the world’s largest steelmaker said it’s revenu fell to $15.1bn in the three months to 31 March, from $29.8bn a year ago.
As a result, the firm reported a quarterly loss of $1.06bn.

The company revealed its intention to raise cash of $3.00 billion to reduce its debts and strengthen its balance sheet.

It will offer investors about $2.5bn worth of shares and about $500m of convertible senior notes.