PARIS: Global steel giant ArcelorMittal said Friday its net profit soared in the third quarter thanks to solid market demand as well as strong prices for its products.

Sales jumped by 21.5 percent from the same period last year to $17.6 billion (15.1 billion euros), while its net profit shot up 71.4 percent to $1.2 billion, both beating the consensus of estimates of analysts surveyed by Bloomberg.

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