ArcelorMittal’s Q2 earnings jump by 46% on higher steel prices

ArcelorMittal reported a 45.5% year-on-year jump in its second-quarter earnings in a financial statement released on Wednesday August 1, because of higher steel prices.

The company’s earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $3.07 billion in April-June 2018, up from $2.11 billion in the corresponding period of 2017.
Earnings improved in all of ArcelorMittal’s steelmaking regions due to the higher steel prices.

For example, Metal Bulletin’s price assessment for domestic rebar in Northern Europe averaged €546.92 ($640.36) per tonne delivered in the second quarter of 2018, up from €458.65 per tonne delivered in...

Published

Maria Tanatar

August 01, 2018

19:30 GMT

London