Steel Mills
November 5, 2020
ArcelorMittal Narrows Loss, Remains Cautious on COVID
Written by Sandy Williams
Global steelmaker ArcelorMittal narrowed its net loss to $300 million in the third quarter, an improvement on the loss of $600 million in Q2, as sales increased 20.9 percent to $13.3 billion due to higher steel shipments and a better sales mix.
Worldwide shipments for the quarter totaled 17.5 million metric tons, a 17.5 percent increase from Q2, showing growth across all segments. Despite improvement from the second quarter, steel demand remained well below pre-crisis levels. Steel shipments fell 13.5 percent from 3Q 2019.
