ArcelorMittal said operating income at its Brazilian business segment in Q2 spiked 763.8 percent, year-over-year, to $1.02 billion. The company blamed Covid-19 for the weaker operating income in Q2 2020.
ArcelorMittal said Brazilian EBITDA in Q2 was $1.08 billion, 533.9 percent up, year-over-year. Net revenues in Brazil in Q2 rose 171 percent, year-over-year, to $3.26 billion. Steel sales volumes in Q2 grew 43.9 percent, year-over-year, to 2.96 million mt.
The company said crude steel output in Brazil in Q2 totaled 3.15 million mt, 86.1 percent up, year-over-year.