ArcelorMittal Steel Shipments Recorded Surge in 2019

SEATTLE (Scrap Monster): Luxembourg-based integrated steelmaker ArcelorMittal announced publication of Annual Report 2019 that outlines financial and operational performance of the parent company.

The company’s sales posted 7.1% decline from $76.0 billion in 2018 to $70.6 billion in the year ended 31^st December, 2019. The cost of sales for the year ended December 31, 2019 was $68.9 billion as compared to $67.0 billion for the year ended December 31, 2018. The 2019 operating loss was $0.6 billion, as compared with the operating income of $6.5 billion a year before.

The steel shipments by the company totalled 84.5 million tonnes in 2019. This is marginally higher by 0.8% from the shipments which had totalled 83.9 million tonnes in 2018. The European steel shipments surged higher by 3.2%. The steel shipments had increased by 3.5% during the initial six-month period of the previous year. The average steel selling price witnessed a year-on-year decline of 9.6% in 2019.

The sales in NAFTA segment were $18.6 million in 2019. The segment reported operating loss of $1.3 billion in the year ended 31^st December, 2019. The sales in the Europe segment were $37.7 billion, down by 6.8% from $40.5 billion from the year before. The ACIS segment sales totalled $6.8 million.

The crude steel production was down 2.9% in 2019 to 21.9 million tonnes. The production had totalled 22.6 million tonnes in 2018.