ArcelorMittal Brazil reports stronger operating income in Q4 2020

ArcelorMittal Brazil reports stronger operating income in Q4 2020

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ArcelorMittal said operating income at its Brazil segment in Q4 2020 surged 63.8 percent, year-over-year, to $290 million.

EBITDA was $339 million in Q4 2020, 41.2 percent up, year-over-year. Net revenues for the Brazilian segment in Q4 2020 slightly declined 0.94 percent, year-over-year, to $1.88 billion. Steel sales volumes of 2.57 million mt in Q4 2020, 5.2 percent down, year-over-year.

Crude steel output in Q4 2020 reached 2.86 million mt, up from 2.48 million mt in Q4 2019. The output increase was due to the restart of a blast furnace at its Tubarao mill in Q4 2020, as well as increased demand for long steel products.

Average steel selling prices in Q4 2020 reached $702/mt, up from $628/mt in Q4 2019.

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