Source: Scrap Monster
ArcelorMittal- the world’s leading steel and mining company announced publication of its 2018 Annual Report.
The company’s operating income was $6.5 billion in 2018, slightly higher when compared with the operating income of $5.4 billion in 2017, mainly driven by improved operating conditions. ArcelorMittal recorded annual sales of $76.0 billion in 2018, representing a jump of 10.7% from the sales of $68.7 billion during the year before that.
The operating income for NAFTA segment was $1.9 billion in 2018, as compared with $1.2 billion in 2017. The operating income for Brazil segment almost doubled to $1.4 billion. The company recorded drop in operating income in its Europe segment. On the contrary, the income almost doubled in the ACIS segment from $508 million in 2017 to $1.1 billion in 2018.
The steel shipments by the company totaled 83.9 million tonnes in 2018. This compares with the total shipment of 85.2 million tonnes in 2017. The 1.6% year-on-year decline in shipments was primarily due to 10.3% decline in shipments in ACIS, on account of unplanned maintenance in Ukraine and operational issues in Kazakhstan and Ukraine. The Steel shipments increased marginally by 1.3% in the first half of 2018, whereas it declined by 4.5% in H2 2018.Meantime, average steel selling prices surged higher by 13.5% during 2018.
Commenting on the outlook for 2019, ArcelorMittal said it expects world ex-China ASC to report growth, due to strong demand growth in South American and developing Asian markets. The negative impact of declining Turkish steel demand is likely to wane in 2019.