ArcelorMittal EBITDA Rises 34% Amid EU Trade Protections

ArcelorMittal reported a 34% increase in third-quarter EBITDA to $2.02 billion, attributing the growth to enhanced European Union trade protections. These measures, which include a carbon-border adjustment mechanism and doubling duties to 50% for imports exceeding 18.3 million metric tons, helped the steelmaker offset high energy costs resulting from conflicts in the Middle East.

Despite the EBITDA growth and the restart of all European blast furnaces, the company recorded a net loss of $391 million for the quarter. This loss stemmed primarily from over $1 billion in charges following missile attacks that forced the closure of the company's Kryvyi Rih plant in Ukraine.

CEO Aditya Mittal stated that the EU trade measures are creating a more sustainable operating environment and expects their full financial impact to be reflected starting next year. He emphasized that momentum must continue, including further action to address the impact of imports in steel-intensive downstream sectors.