ArcelorMittal Steel Shipments Dipped in H1 2021
Steel News | 2021-08-03 19:41:38
The EBITDA for the first half of 202, at $8.3 billion, hit the highest level since 2008.
By Paul Ploumis
SEATTLE (Scrap Monster): Integrated steelmaker and mining giant ArcelorMittal announced interim financial report for the half-yearly period of the current year ended 30th June.
The company reported sales of $35.5 billion for the six-month period, compared to $25.8 billion during the corresponding six-month period last year. The steel shipments recorded decline from 34.3 million tonnes to 32.6 million tonnes over the year. The crude steel and iron ore production totalled 35.4 million tonnes and 24.5 million tonnes in H1 2021. This compares with 35.5 million tonnes and 27.9 million tonnes respectively in the year-ago period.
The EBITDA for the first half of 202, at $8.3 billion, hit the highest level since 2008. This is significantly higher upon comparison with H1 2020 EBITDA of $1.7 billion. The company reported free cash flow of $2 billion. The net debt fell to $5 billion at the end of the first half of 2021, compared with $6.4 billion as of end-2020.
ArcelorMittal upgraded its steel consumption forecasts for the current year, mainly on account of anticipated further improvement in demand outlook during the second half of the year.
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