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ArcelorMittal’s steel production fell by 3.1% in January – September 2023

ArcelorMittal, one of the world’s largest steel producers, reduced steel production in the January-September 2023 period by 3.1% compared to the same period in 2022 to 44.4 million tons. Exports decreased by 2.3% year-on-year to 42.3 million tons. This was stated in the quarterly report published on the company’s website.

Iron ore production in the period from January to September decreased by 7.5% compared to the same period in 2022 to 32 million tons. Iron ore sales (only AMMC and Liberia) amounted to 20.3 million tons, i.e. 3.8% lower year-on-year.

In the third quarter of 2023, ArcelorMittal’s steel production increased by 3.4% compared to the previous quarter, and by 2% year-on-year to reach 15.2 million tons. Meanwhile, steel sales fell 3.5% quarter-on-quarter and rose 0.7% year-on-year.

Iron ore production reached 10.7 million tons in the period from July to September 2023, an increase of 1.9% on a quarterly basis and by 1% on an annual basis. Iron ore sales (only AMMC and Liberia) rose 4.7% q-o-q and fell 8.7% y-o-y to 6.3 million tons.

ArcelorMittal’s steel production in 2022 declined by 14.6% compared to 2021, reaching 59 million tons. Exports decreased by 11.1% year-on-year to reach 55.9 million tons. Iron ore production increased by 9.2% compared to 2021, reaching 28 million tons. Iron ore sales reached 28 million tons, up 7.7% year-on-year.

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