Exclusive ArcelorMittal produced 13.3 million tons of steel in Q1

The company increased production by 3.9% q/q but saw a y/y decline

Global steelmaker ArcelorMittal increased its steel production by 3.9% compared to the previous quarter in the first quarter of 2026, but saw a 10.1% year-on-year decline to 13.3 million tons, according to the company’s report.

Metal product shipments for the period totaled 12.8 million tons, down 1.5% compared to the fourth quarter of 2025 and 5.9% year-on-year.

Iron ore production reached 12.9 million tons, down 1.5% quarter-on-quarter and up 9.3% year-on-year. In the AMMC and Liberia segment, production amounted to 9.7 million tons (-4% q/q; +15.5% y/y), while shipments totaled 10.0 million tons (-1.0% q/q; +25% y/y).

Regionally, the largest growth in steel production occurred in North America—up 18.3% quarter-on-quarter, to 2.1 million tons, which also represents a 5.4% year-on-year decline. In Europe, production increased by 6.8% quarter-on-quarter to 6.8 million tons, but remained 14.5% lower year-on-year.

“First-quarter results were resilient despite the volatile situation in the Middle East, while profitability at $131/t EBITDA reflects the benefits of our globally diversified asset portfolio and the consistent execution of our strategy,” said CEO Aditya Mittal.

According to him, improving market conditions in Europe are already impacting the company’s production outlook.

“Business fundamentals have improved over the past three months, primarily due to favorable structural changes in Europe’s political environment, including the CBAM and new tariff rate quotas (TRQs), which are expected to significantly reduce imports into Europe starting July 1,” Mittal added.

The company expects these changes to increase capacity utilization in the region; specifically in Europe, this will lead to higher domestic capacity utilization and a return of profitability and ROCE to healthy, sustainable levels.

As a reminder, in 2025, ArcelorMittal reduced steel production by 4% compared to 2024, to 55.6 million tons. Iron ore production for the year increased by 15.1% year-on-year, to 48.8 million tons. Steel shipments to customers totaled 54 million tons (-0.6% year-on-year), while iron ore shipments (for AMMC and Liberia only) totaled 36.3 million tons (+37.5% year-on-year).