Luxembourg-based steelmaker ArcelorMittal has announced that its sales revenue increased by 8.4 percent quarter on quarter to $16.76 billion in the second quarter of 2026, supported by a 4.4 percent rise in average steel selling prices and a 4.1 percent increase in steel shipments, while its EBITDA advanced by 22.9 percent to $2.06 billion and its net income rose by 18.8 percent to $683 million.
During the given quarter, the company's crude steel production increased by 7.5 percent quarter on quarter to 14.3 million mt, though it remained slightly below the 14.4 million mt recorded in the same quarter of 2025, while its steel shipments rose to 13.4 million mt from 12.8 million mt in the first quarter but declined from 13.8 million mt year on year.
ArcelorMittal's European segment recorded a 4.7 percent quarter-on-quarter increase in sales to $7.80 billion, mainly reflecting a 3.9 percent rise in average steel selling prices, while its operating income increased to $410 million from $239 million. Crude steel production rose by 10.5 percent to 7.6 million mt following production restarts in Spain and Poland, while the company also restarted its Fos blast furnace in France at the end of July amid improving demand.
In North America, sales increased by 11.3 percent quarter on quarter to $3.67 billion, supported by a 7.9 percent rise in steel shipments and a 6.7 percent increase in average selling prices, while crude steel production rose by 3.2 percent to 2.2 million mt following the full recovery of the company's Mexican long steel operations. In Brazil, sales advanced by 12.2 percent to $3.15 billion as average steel selling prices increased by eight percent and shipments rose by 3.9 percent to 3.57 million mt, largely reflecting stronger domestic demand and lower import penetration, while crude steel production increased by 5.6 percent to 3.71 million mt.
Meanwhile, the mining segment's iron ore production increased by 3.5 percent quarter on quarter and 22 percent year on year to 10.1 million mt, driven by seasonally higher output in Canada and improving operations in Liberia. However, shipments fell to 9.4 million mt due to heavy rainfall in Liberia and weather-related port constraints in Canada, pushing mining sales down by 15 percent quarter on quarter to $780 million. ArcelorMittal maintained its 2026 iron ore shipment guidance for Liberia at 18 million mt.
AMNS India, ArcelorMittal's 60 percent-owned joint venture, produced 1.95 million mt and shipped 1.93 million mt of steel during the quarter, while its sales increased by 2.4 percent quarter on quarter to $1.66 billion, mainly due to higher average steel selling prices.
ArcelorMittal expects the EU's new tariff-rate quota system, introduced alongside the Carbon Border Adjustment Mechanism, to support higher domestic capacity utilization and stronger order books, forecasting stable or slightly higher European shipments in the third quarter despite the usual seasonal decline. The company maintained its 2026 capital expenditure guidance at $4.5-5.0 billion and expects its strategic growth projects and completed acquisitions to add approximately $1.8 billion to its EBITDA potential from 2026 onward.
