ArcelorMittal Europe Results for Q3 of 2020

ArcelorMittal Europe segment crude steel production increased by 11.8% to 7.9 million tonne in 3Q 2020 as compared to 7.1 million tonne in 2Q 2020
ArcelorMittal Europe Results for Q3 of 2020
ArcelorMittal EuropeJOPK

which was heavily impacted by the lockdown measures in response to the COVID-19 pandemic. Nevertheless, demand and activity levels have since gradually improved, as lockdowns eased through 2Q 2020 and into 3Q 2020, particularly with automotive and manufacturing restarts. As a result, the Company resumed some steel-making capacity in France, Spain and Germany, with some of the restarts required to ensure continuity of supply to customers during the planned major reline of a blast furnace at Gent, Belgium that began late August 2020. Nevertheless, demand has not yet recovered to pre-crisis levels and production in 3Q 2020 was 24.2% lower as compared to 10.4 million tonne in 3Q 2019.

Steel shipments in 3Q 2020 improved by 20.1% to 8.2 million tonne as compared to 6.8 million tonne in 2Q 2020 primarily driven by higher flat steel shipments (+29.6%). Steel shipments were 15.6% lower in 3Q 2020 as compared to 9.7 million tonne in 3Q 2019 (in both flat and long products) primarily due to the impacts of the COVID-19 pandemic.

Sales in 3Q 2020 were USD 7.0 billion, 20.9% higher as compared to USD 5.8 billion in 2Q 2020, primarily due to higher shipment volumes and an improved sales mix

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