ArcelorMittal recently announced that AMNS Calvert's hot strip mill production during Q2 of 2022 totaled 1.1 million tonne, stable as compared to 1.1 million tonne in Q1 of 2022 and 8.7% lower than 1.2 million tonne in Q2 of 2021. Steel shipments in Q2 of 2022 were 4.1% below Q1 of 2022 due to weaker demand.EBITDA during Q2 2022 of USD 261 million was 20.2% lower than USD 327 million in Q1 of 2022 primarily on account of lower pricing with the falling CRU index prices in February and March 2022 impacting non-contract volumes of Q2 of 2022.Production of the hot strip mill including processing of slabs on a hire work basis for ArcelorMittal group entities and third parties, including stainless steel slabs.Shipments include finished products processed on a hire work basis for ArcelorMittal group entities and third parties, including stainless steel products.EBITDA of Calvert presented here on a 100% basis as a stand-alone business and in accordance with the Company's policy, applying the weighted average method of accounting for inventory.AM/NS Calvert is a 50/50 joint venture between ArcelorMittal and Nippon Steel Corporation, and is highly complementary to ArcelorMittal USA's existing portfolio of world-class assets. The steel processing plant is located in Calvert in Alabama, about 35 miles north of Mobile. Purchased by ArcelorMittal and Nippon Steel Corp. in 2014, the plant has served the North American market since 2010 with the capacity to produce 5.3 million tons of flat rolled carbon steel products annually.
ArcelorMittal recently announced that AMNS Calvert's hot strip mill production during Q2 of 2022 totaled 1.1 million tonne, stable as compared to 1.1 million tonne in Q1 of 2022 and 8.7% lower than 1.2 million tonne in Q2 of 2021. Steel shipments in Q2 of 2022 were 4.1% below Q1 of 2022 due to weaker demand.EBITDA during Q2 2022 of USD 261 million was 20.2% lower than USD 327 million in Q1 of 2022 primarily on account of lower pricing with the falling CRU index prices in February and March 2022 impacting non-contract volumes of Q2 of 2022.Production of the hot strip mill including processing of slabs on a hire work basis for ArcelorMittal group entities and third parties, including stainless steel slabs.Shipments include finished products processed on a hire work basis for ArcelorMittal group entities and third parties, including stainless steel products.EBITDA of Calvert presented here on a 100% basis as a stand-alone business and in accordance with the Company's policy, applying the weighted average method of accounting for inventory.AM/NS Calvert is a 50/50 joint venture between ArcelorMittal and Nippon Steel Corporation, and is highly complementary to ArcelorMittal USA's existing portfolio of world-class assets. The steel processing plant is located in Calvert in Alabama, about 35 miles north of Mobile. Purchased by ArcelorMittal and Nippon Steel Corp. in 2014, the plant has served the North American market since 2010 with the capacity to produce 5.3 million tons of flat rolled carbon steel products annually.
