ArcelorMittal expects that “encouraging” new EU trade policies will help bring back fair competitiveness in the steel market in 2026, the company said in its third-quarter report for 2025 on Thursday November 6.
According to the company, the new steel safeguard measures proposed by the European Commission on October 7, paired with the EU’s Carbon Border Adjustment Mechanism (CBAM) will bring more security to the market and boost demand in the medium to long term.
“Once enacted, [the policies] will support the European steel industry’s ability to improve capacity utilization, improve profitability and invest with confidence for the future,” Aditya Mittal, ArcelorMittal chief executive officer, said in the report.
The newly proposed safeguards suggest cuts in tariff-free quotas of about 47% and the imposition of a 50% ad valorem duty on any volumes beyond the new limit.
Additionally, under the new plan, steel shipments above a new $18.3 million tonnes per year capacity would face duty at 50%.
“While markets are challenging and tariff-related headwinds persist, we are seeing signs of stabilization and are optimistic on the outlook for our business in 2026, when we will benefit from more supportive industry policies in key markets,” Mittal said in the report.
ArcelorMittal was the first steel mill to raise its offer prices for flat steel products across Europe in October, which rose by €20 ($23) per tonne for December delivery and by an additional €20 per tonne for January delivery.
Since then, other mills have followed suit, resulting in higher offers for steel products in the market. But it remains to be seen whether higher offers will be fully accepted by European buyers.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe also captured the growth trend, with HRC prices at €600 per tonne on Wednesday November 5, compared with €575 per tonne the same time the previous month.
But while mills’ sentiment has been “very bullish”, demand remains subdued, with higher offer prices being primarily driven by “expectations of more protections” in the European market, sources told Fastmarkets.
ArcelorMittal Europe’s key indicators
ArcelorMittal’s crude steel production from its European operations reached $7.25 million per tonne in the third quarter, down slightly from $7.53 million per tonne during the previous quarter and down year on year from $7.87 million per tonne.
The company’s steel shipments reached $7 million tonnes in the third quarter, compared with $7.30 million tonnes in the previous quarter and $6.80 million tonnes in the third quarter of 2024.
Third quarter sales totaled $7.18 billion, compared with $7.65 billion in the previous quarter and $7.14 billion in the third quarter of 2024.
ArcelorMittal Europe’s operating income reached $233 million in the third quarter, up from $150 million in the second quarter and from $12 million in the previous year.
ArcelorMittal Europe’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached $513 million in the third quarter, compared with $627 million in the previous quarter.
