ArcelorMittal records a slight drop in steel supplies in 2018

ArcelorMital, the world's leading steel and mining company, has announced the publication of its 2018 annual report.

The company had operating income of $ 6.5 billion in 2018, slightly higher than operating income of $ 5.4 billion in 2017, largely due to improved working conditions. ArcelorMittal had annual sales of $ 76.0 billion in 2018, up 10.7% from last year's $ 68.7 billion.

Steel supplies by the company amounted to 83.9 million tons in 2018. This compares to total shipments of 85.2 million tonnes in 2017. The drop in shipments by 1.6% year-on-year was mainly due to a decrease in shipments to ACIS by 10.3%. accounting for unscheduled maintenance in Ukraine and operational issues in Kazakhstan and Ukraine. Steel shipments increased marginally by 1.3% in the first half of 2018, while in the second half of 2018 they decreased by 4.5%, and on average, average steel sales prices increased by 13.5% during 2018.

Commenting on the outlook for 2019, ArcelorMittal said it expects ASC from China to report growth due to strong demand growth in South America and emerging Asia. The negative impact of lower steel demand in Turkey is likely to diminish in 2019.