The Brazilian segment of ArcelorMittal saw its net revenues in Q4 rise 28.6 percent, year-on-year, to $2.25 billion, the company said on Wednesday. On a quarterly analysis, net revenues rose 9.4 percent, quarter-on-quarter, from $2.05 billion in Q3 2017.
The Brazil segment includes the nation’s flat and longs operations, as well as the businesses of neighboring countries like Argentina, Costa Rica and Venezuela.
The company attributed the increased net revenues on a quarter-on-quarter basis to higher average steel selling prices, with both domestic and export prices increasing and higher steel shipments.
ArcelorMittal said the Brazilian segment’s crude steel output rose 6.9 percent, quarter-on-quarter, to nearly 3 million mt following “planned shipments (primarily export) offset in part by a 6.1 percent seasonal decrease in long product steel shipments.”
When compared to the same quarter of the year prior, crude steel production in the Brazilian segment rose 7.6 percent, year-on-year.
EBITDA in Q4 for the Brazil segment was $341 million, up from $213 million in Q4 2016. Average steel selling prices rose as well to $685/mt in Q4 2017 from $565/mt in Q4 2016.