ArcelorMittal said its Brazilian subsidiary saw net revenues in Q3 decline 8.3 percent, year-on-year, to $1.92 billion. Brazilian EBITDA in Q3 was $258 million, down from $445 million in the same quarter of the year prior, and operating income in Q3 fell 47.5 percent, year-on-year, to $196 million.
ArcelorMittal Brazil produced 2.6 million mt of steel in Q3, down from 3.1 million mt in the same quarter of 2018. The subsidiary’s average steel selling prices in Brazil decreased to $676/mt in Q3 this year from $714/mt in Q3 2018.