ArcelorMittal’s net profit for Brazilian operations increased nearly 384 percent in 2014 to BRL 1.4 billion, from BRL 289.5 million in 2013, according to media reports this week.
The company’s net revenue in Brazil increased 8.2 percent to reach BRL 17.9 billion in 2014. According to the report, the company sold 8.9 million mt of steel in 2014, up 10 percent year-on-year. About 71.5 percent of ArcelorMittal’s Brazilian sales were destined for the domestic market.
The company’s flat steel production in 2014 rose 21 percent to 5.3 million mt, while long steel output fell 7 percent to 3.3 million mt.
The Brazilian subsidiary of ArcelorMittal benefited from the commercialization of scrap and slag steel, the report noted, adding the company’s gains with the sale of these two products jumped 65 percent to BRL 448 million.