ArcelorMittal Posted Surge in NAFTA Steel Shipments in 2023

SEATTLE (Scrap Monster): The Annual Report 2023 published by ArcelorMittal indicates that steel shipments remained relatively stable during 2023.

The steel shipments by the company totalled 55.6 million tonnes during the previous year. This compares with shipments of 55.9 million tonnes for 2022.

The steel shipments registered decline by 3.6% to 28.7 million tonnes in the first half of 2023 as compared to 29.7 million tonnes for the first half of 2022. On the contrary, steel shipments increased 2.9% to 27.0 million tonnes in the second half of 2023 compared to 26.2 million tonnes in H2 2022.

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The steel shipments in the NAFTA segment increased by 10.2% during the previous year. The shipments totalled 10.6 million tonnes as compared to the 9.6 million tonnes in 2022. The shipments were up by 10.94% and 9.4% in the first and second halves of the year respectively.

The average steel selling prices in the NAFTA segment witnessed notable decline by 15.7% in 2023. The average selling prices plummeted by 20.2% in H1 2023 and by 10% in the second half of the year.

The sales in the NAFTA region stood at $13 billion during the previous year, down by 5.8% from the year before. The operating income, at $1.9 billion, was down significantly by almost 32% from the prior year. It must be noted that the region had reported operating income of $2.8 billion in 2022.