Global steelmaker ArcelorMittal said operating income in its Brazil segment reached $1.16 billion in Q3, up from $209 million in Q3 2020. Net revenues in Q3 totaled $3.6 billion, 122.05 percent up, year-over-year.
The company said EBITDA in Q3 surged 409.8 percent, year-over-year, to $1.34 billion. Crude steel output at ArcelorMittal Brazil in Q3 reached 3.11 million mt, 35.5 percent up, year-over-year. Steel sales volumes in Q3 also rose to 2.82 million mt, from 2.42 million mt in Q3 2020.
The company said average steel selling prices in Q3 at its Brazil segment almost doubled to $1,196/mt, from $625/mt.