US EditionArcelorMittal Reports $575 Million Profit in First Quarter
- ArcelorMittal reported a 4.4% increase in first-quarter sales, reaching $15.4 billion, while net profits fell 28.6% to $575 million largely due to an $80 million loss from exchange rate changes.
- Chief Executive Aditya Mittal highlighted improved business fundamentals driven by favorable structural changes in European policies, including EU measures such as a carbon tax on imports and a new tariff rate quota.
- The company is confident about its prospects for the rest of the year, expecting benefits from new EU policies to improve pricing and volume, which may offset challenges like the Iran conflict.
29 Articles
29 Articles
ArcelorMittal France is relaunching the consultation on its low CO2 steel production project at its Dunkirk site. Announced on 10 February, this project is based on the construction of an electric arc furnace, an investment estimated at 1.3 billion euros.
ArcelorMittal cut its net profit attributed to 28.6% in the first quarter compared to the same period of the previous year, until reaching the 575 million dollars (493 million euros), according to the data published by the company this Thursday through the National Securities Market Commission (CNMV). Thus, the company was dragged by the crisis that is suffering the sector due to the outbreak of the war in Iran. However, the merchant company has…
The European steel market is picking up strongly. The import quotas and tariffs imposed by the European Union on imported steel are resulting in a much stronger European steel market. Steel producer ArcelorMittal therefore expects to significantly increase production by expanding existing production capacity and restarting shut-down plants.
Italian steel, iron companies sign up for renewable power supplies under incentive scheme « Carbon Pulse
An independent power producer has struck bilateral deals with Italian steel and iron companies, agreeing to supply renewable electricity that will help to avoid some 528,000 tonnes of CO2, it announced on Thursday.
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