ArcelorMittal NAFTA Sales Increase 4.1% in Q3

ArcelorMittal reported $20 billion in sales for third quarter on 21.5 million tonnes (23.7 million tons) of steel shipments. Net income for the quarter was $22 million, compared to $52 million in Q2 2014 and a net loss of $193 million in Q3 2013. Total crude steel production for the company was 23.9 million tonnes (26.3 million tons).

“This quarter’s results show the considerable improvement in our steel business which has more than offset the fall in the iron ore price,” commented Chairman and CEO Lakshmi Mittal. “Europe has delivered another strong quarter, reflecting improved market conditions and the benefits of the optimisation efforts, the turnaround in ACIS is evident, and the NAFTA business has recovered after a disappointing first half. Based on today’s market conditions, I do not foresee deterioration in our performance in the fourth quarter. As a result we are well placed to achieve full year EBITDA in excess of $7.0 billion.”