ArcelorMittal: steel losses in the third quarter

The third quarter of the year proved to be weaker for ArcelorMittal, especially in the steel segment. After three quarters of the year, the company still has a much better performance than last year.

For three quarters, EBITDA amounted to $ 6.267 billion, which is 36.4% more than a year earlier. In the third quarter, the mining segment became a more profitable part of ArcelorMittal's business than the steel segment. The steel sector is losing especially in the European market and in the USA.

Operating income in the third quarter was $ 1.2 billion versus $ 1.4 billion in the second quarter. The year-on-year growth was 2.5%. Net income for the third quarter of 2017 was $ 1.2 billion, up from $ 1.3 billion in the second quarter of 2017 but exceeding $ 0.7 billion in the third quarter of 2016.

Iron ore mining was the more profitable part of ArcelorMittal's business in the third quarter. While EBITDA per ton averaged $ 89, in the case of steel it was only $ 73.