ArcelorMittal has publishes its report for the second quarter of 2024.

The results highlight an increase in steel deliveries. Combined with low costs, this has compensated for the low steel prices.

Earnings excluding interest, taxes and amortisation were set to almost 1.9 billion US dollars in the second quarter, compared to 2 billion in the first three months of the year.

Net profit between March and June was set at half a billion dollars, compared to 0.9 billion between January and March.
 
ArcelorMittal believes that the current market conditions won't last in the long term, as overproduction from China is leading to low steel margins and aggressive exports.

As a result, steel prices in both Europe and the USA are below the cost of production. However, the company expects demand in the second half of 2024 increase and remains optimistic that stocks will be replenished as soon as demand increases again.

An important goal for the company continues to be the move towards zero injuries and fatalities. A crucial step in this was carrying out a safety audit throughout the whole company.