ArcelorMittal NAFTA Earnings Softer in Q2

ArcelorMittal’s NAFTA segment posted sales of $4.6 billion, a 3.3 percent decline from first quarter. Operating income decreased to $378 million from $396 million and EBITDA fell 3.3 percent to $506 million. Although average steel prices were higher in second quarter, they were offset by lower shipment volumes and higher costs, including planned maintenance at AM/NS Calvert and ArcelorMittal Dofasco.

Crude steel production slipped 7.3 percent quarter-over-quarter to 5.76 million metric tons due to planned maintenance. Steel shipments dipped 3.4 percent to 5.4 million tons driven by a 3.9 percent decrease in flat product volume that was partially offset by a 1.9 percent improvement in long products.