ArcelorMittal produced 58.1 million tons of steel in 2023

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.