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ArcelorMittal has best quarter in 13 years on strong steel demand

ArcelorMittal, the world’s largest steelmaker, profited from the continued economic recovery from the COVID-19 pandemic to report its highest quarterly earnings in 13 years, beating expectations, and announced a new share buyback.

The Luxembourg-based company also said on Thursday it had raised its forecast for the growth in global steel consumption this year to 7.5-8.5% from 4.5-5.5% previously.

ArcelorMittal said second-quarter core profit (EBITDA), the figure most watched by the market, was $5.1 billion, almost seven times higher than $700 million a year earlier and above analysts’ average forecast in a company poll of $4.7 billion.

The company said it would start a $2.2 billion buyback programme to be completed by the end of 2021.

It said it had benefited from strong steel demand and low inventories, resulting in higher steel shipments, although an improvement in steel spreads was not yet fully reflected in the group’s results due to order book lags.

It added that ongoing policy changes in China to curb inflation and a focus on decarbonisation could have lasting positive effects on the global steel industry outside of China.

The company also set a target for reducing carbon dioxide emissions by 25% by 2030 in a new decarbonisation plan which will require around $10 billion in investment.



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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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