BRUSSELS, Belgium – ArcelorMittal posted a $1 billion fourth quarter loss in 2011, compared to a loss of $780 million in the fourth quarter of 2010. The company attributed the loss on a declining European economy and one-time tax restructuring charges.

For this year, the company said it expects demand for steel to increase by 4.6 percent, mostly outside of Europe

ArcelorMittal is the world’s largest steel producer and operates plants in Burns Harbor, Gary and East Chicago.