ArcelorMittal’s global steel output remained largely steady, whilst production in Europe saw a slight decline. Yet Europe showed improved financial results, including a skyrocketing Ebitda, the steelmaker says in its second-quarter results monitored by Kallanish.
The striking figure emerging from the report is the steelmaker’s European Ebitda, which surged 69.7% to $627 million in Q2, up from $370m in the first quarter and from $462m in Q2 2024. The improvement reflects a stronger price-cost spread, slightly offset by reduced shipment volumes.
ArcelorMittal’s global crude steel output edged upward year-on-year to 29.2 million tonnes in the first half of 2025, from 29.1mt in H1 2024. Quarterly production remained broadly stable, easing slightly from 14.8mt in Q1 to 14.4mt in Q2 2025. On-year, Q2 output declined moderately from 14.7mt. In Europe, production in the recent quarter fell compared with the previous quarter, primarily due to the planned reline of the Dunkirk’s blast furnace no. 4, which was restarted in mid-July. In the first six months of the year, crude output in Europe stood at 15.5mt, slightly down from 15.6mt in the same period last year. In the second quarter output reached 7.5mt, down from the 7.9mt achieved in the first quarter and from 8,041t of Q2 2024.
“Sales in 2Q 2025 increased by 6.0% to $7.7 billion as compared to $7.2 billion in 1Q 2025, primarily due to a 11.0% increase in average steel selling prices offset in part by a 3.0% decline in steel shipment volumes which was impacted by apparent demand. 2Q 2025 steel shipments were 1.4% lower year-on-year, reflecting a 6% decline in long product shipments whilst flat product shipments were stable,” the reports states.
European sales in the first half reached $14.87 billion, reflecting a y-o-y decrease from $15.66 billion in H1 2024. Ebitda soared in H1 to $997m from $805m in the same period last year. Steel shipment in the six-month period increased slightly on-year to 14.833t from 14.643t the previous year.
According to the report, in Europe demand is holding up relatively well, with apparent flat product consumption forecast to grow 0.5-1.5% in 2025, thanks to limited tariff impacts and easing interest rates. Despite short-term headwinds such as seasonally weaker demand and subdued manufacturing activity, European inventories remain relatively low. In the medium term, Europe may see notable improvement supported by trade policy, the Carbon Border Adjustment Mechanism (CBAM), and increased public investment in infrastructure and defence.
The group’s first-half sales stood at $30.72 billion, compared with $32.53 billion in H1 2024. H1 Ebitda stood at $ 3.44 billion, declining from $ 3.82 billion in H1 last year (see separate article).
Natalia Capra France
