Summary Box: Higher prices, demand lift world’s biggest steelmaker back to 2nd-quarter profit

Summary Box: ArcelorMittal returns to 2Q profit

BIG STEEL: A jump in sales and prices helped lift ArcelorMittal SA to a $1.7 billion second-quarter profit, reversing a year-ago loss. The world’s biggest steelmaker says it will sell its stainless steel unit.

THE BACKDROP: Recovering demand in the U.S., Europe and other economies helped lift sales 43 percent to $21.7 billion. Sales were up 16 percent from the first quarter. Steel shipments rose to 22.8 million metric tonnes, from 21.5 million in the first quarter.

WHAT’S AHEAD: ArcelorMittal will raise prices 10 percent in the third quarter, despite the expected summer slowdown, as it tries to pass through higher raw material costs to customers.