ArcelorMittal said EBITDA for its Brazilian business in Q2 declined nearly 30 percent, year-on-year, to $313 million.
Net revenues for the company’s Brazil segment in Q2 was $2.1 billion, 3 percent down, year-on-year, and 1.4 percent down, quarter-on-quarter, due to lower steel sales volumes.
ArcelorMittal said operating income for its Brazilian business in Q2 was $234 million, down from $369 million in Q2 2018.
Steel sales volumes in Q2 reached 2.7 million mt, 1.6 percent down, year-on-year. Crude steel production in Q2 dropped 9.1 percent, year-on-year, to 2.8 million mt.