Arcelor makes Q2 net income of $1.7 billion

BRUSSELS, Belgium (AP) - ArcelorMittal SA, the world's biggest steelmaker, says it made net income of $1.7 billion in the second quarter, up from a loss of $0.8 billion a year earlier.

The result announced Wednesday is the fourth consecutive quarterly profit for the company based in Luxembourg, helped by higher prices and demand as the global economy emerges from a recession triggered by the financial crisis in 2008.

Sales swelled by 43 percent to $21.7 billion compared to the second quarter of 2009.