Steel giant ArcelorMittal has reported a profit for the July to September quarter, ending a run of three consecutive quarterly losses.
The company made a net profit of $903m (£552m) in the period, 76% less than the $3.82bn it made a year earlier.
The world's largest steel producer said it should see "further gradual improvement" in 2010, despite the "challenging operating environment".
Steel producers have suffered as demand for steel has fallen in the downturn.
Sales at Arcelor came in at $16.2bn, compared with $35.2bn for the same period a year ago.
"As anticipated, we have seen the first signs of recovery in the third quarter," said Arcelor's chairman Lakshmi Mittal.
"In response to this increased demand, a number of our facilities have now been re-started, and we expect fourth-quarter crude steel capacity to be approximately 70%," he added.
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