Stronger manufacturing and construction markets in Europe have boosted the underlying profit result of the world’s biggest steel maker as it tries to recover from several years of extremely difficult conditions.

In a statement released late on Friday (Sydney time), Luxembourg based ArcelorMittal says its operating profit (underlying profit) rose from $US404 million ($A432 million) in the March quarter of 2013 to $US674 million in the first three months of this year as iron ore shipments (14.8 Mt) jumped 15 percent…