ArcelorMittal saw revenues for its Brazilian subsidiary rise 19 percent year-on-year in Q3. the company said while releasing its quarterly results.
Revenues in Brazil reached $2.05 billion in Q3, up from $1.72 billion in the same quarter of 2016, and up from $1.8 billion in Q2 this year.
Despite the increased revenues, operating income in Q3 was $128 million, 45 percent down, year-on-year, but stable from Q2.
EBITDA for ArcelorMittal Brazil was $202 million, 32.8 percent down, year-on-year, from $301 million in Q3 2016.
Crude steel output fell to 2.79 million mt in Q3 this year from 2.88 million mt in Q3 2016. Steel sales volumes rose 7.5 percent in Q3, year-on-year, to 2.9 million mt.
ArcelorMittal Brazil’s average steel selling price in Q3 was $651/mt, up from $582/mt in Q3 2016, but down quarter-on-quarter from $655/mt in Q2 this year.