ArcelorMittal sees operating income in Q1 surge in Brazil

ArcelorMittal sees operating income in Q1 surge in Brazil

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Global steelmaker ArcelorMittal said operating income at its Brazilian business segment in Q1 this year surged 365.3 percent, year-over-year, to $698 million.

The Brazilian segment reported an EBITDA of $750 million in Q1 this year, 242.4 percent up, year-over-year. Brazilian net revenues in Q1 this year increased 57.6 percent, year-over-year, to $2.51 billion, and 33.2 percent, quarter-over-year, from $1.88 billion in Q4 2020.

The company said crude steel output in Q1 reached 3.03 million mt, up from 2.67 million mt in Q1 2020. Steel sales volumes in Q1 this year increased 21.9 percent, year-over-year, to 2.86 million mt. Average steel selling prices in Q1 this year rose 30.3 percent, year-over-year, to $837/mt.

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