ArcelorMittal reduced its steel production by 0.7% in the first quarter of 2024 compared to the same period last year, with production falling to 14.4 million tonnes.
World's leading integrated steel and mining company, announced its first quarter results on 2 May, including the cities of New York, Amsterdam, Paris, Luxembourg and Madrid. According to the announced data, steel shipments increased by 5% in the first quarter of 2024 compared to the first quarter of last year, while EBITDA for the period January-March 2024 decreased by 8.6%, but increased by 34.5% quarter-on-quarter to USD 1.96 billion.
ArcelorMittal's steel production in the first quarter of this year decreased by 0.7% compared to the same quarter last year. However, it increased by 5.1% compared to the previous quarter and rose to 14.4 million tonnes. According to the statements made, the company had a net debt of USD 4.8 billion at the end of the quarter.
ArcelorMittal Chief Executive Officer Aditya Mittal said: ''"In terms of financial performance, the improved pricing environment and recovering volumes led to stronger quarterly results, which now reflect the value delivered by our joint ventures."'' He concluded.
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