Steel Mills
February 7, 2019
Tariffs a Boon to ArcelorMittal
Written by Sandy Williams
Section 232 tariffs propelled ArcelorMittal to its best results in nearly 10 years, the company reported to analysts and investors today. The 25 percent tariffs on steel imports helped drive up steel prices, adding to company revenue from its U.S. assets. Average steel selling price in North America rose 15 percent year-over-year.
Net income for the company grew 1.7 percent to $5.1 billion from the prior year and was the highest net income since 2010. EBITDA increased 22.1 percent to $10.3 billion.
