Production of iron ore for the year amounted to 42 million tons

In 2023, the global steel company ArcelorMittal reduced steel production by 1.5% compared to 2022 – to 58.1 million tons. In the fourth quarter, the figure increased by 3.8% compared to the same period in 2022, and decreased by 9.9% q/q – to 13.7 million tons. This is stated in the quarterly report published on the company’s website.

Iron ore production last year decreased by 7.3% compared to 2022 – to 42 million tons. In the fourth quarter, iron ore production amounted to 10 million tons, down 6.5% quarter-on-quarter and year-on-year.

Steel shipments for the year decreased by 0.5% y/y – to 55.6 million tons, and iron ore shipments (AMCC and Liberia only) decreased by 5.7% y/y – to 26.4 million tons. In the fourth quarter, the Group shipped 13.3 million tons of steel (+5.6% y/y, -2.9% q/q) and 6.1 million tons of iron ore (-11.6% y/y, -3.2% q/q) – to customers.

As GMK Center reported, ArcelorMittal in 2022 reduced steel production by 14.6% compared to 2021 – to 59 million tons. Steel shipments for the year fell by 11.1% y/y – to 55.9 million tons. Iron ore production increased by 9.2% compared to 2021 – to 28 million tons. Sales of iron ore reached 28 million tons, which is 7.7% more y/y.

ArcelorMittal’s net profit for the year decreased by 37.8% compared to 2021 – to $9.302 billion. The corporation’s EBITDA for the past year amounted to $14.16 billion, which is 27% less than in 2021.

ArcelorMittal is a leading global steel and mining company with operations in 60 countries and production assets in 18 countries.