In the third quarter of 2026, ArcelorMittal’s EBITDA increased 34% year over year to $2.02 billion. According to the company, the European Union’s trade measures on steel imports had begun to improve market conditions, while flat steel deliveries in Europe rose from the previous quarter, contrary to the usual seasonal trend.
Global steelmaker ArcelorMittal presented its financial and operational results for the third quarter of 2026 on November 5.
EBITDA—earnings before interest, taxes, depreciation and amortization—increased from $1.51 billion in the same period last year to $2.02 billion. EBITDA per tonne rose from $111 to $155.
The company attributed the result to investments in development, optimization of its production assets and operations across markets in different countries.
According to ArcelorMittal, tighter EU trade measures are already reducing the share of imported steel in the region and increasing the utilization of local production capacity.
After the introduction of the new tariff-rate quota system, the company restarted all of its blast furnaces in Europe.
In the third quarter, flat steel deliveries in Europe increased from the previous quarter, diverging from the usual seasonal trend.
ArcelorMittal noted that high energy prices are temporarily raising production costs in Europe, but steel prices have begun to adjust to the higher costs.
ArcelorMittal’s crude steel production increased from 13.6 million tonnes in the third quarter of last year to 13.7 million tonnes in the current quarter.
However, total steel shipments fell year over year from 13.6 million to 13 million tonnes.
Iron ore production increased from 12.1 million to 12.6 million tonnes.
In the first nine months of 2026, ArcelorMittal produced 41.3 million tonnes of crude steel and shipped 39.2 million tonnes of steel.
The company expects flat steel deliveries in Europe to accelerate in the final quarter of the year.
ArcelorMittal forecasts that flat steel deliveries in Europe will increase by a double-digit percentage year over year in the fourth quarter. The group’s total shipments in the second half of 2026 are expected to exceed those in the first half of the year.
ArcelorMittal CEO Aditya Mittal said the EU’s Carbon Border Adjustment Mechanism (CBAM) and the new tariff-rate quota system had created more balanced and sustainable conditions for Europe’s steel industry.
According to Mittal, the positive impact of EU trade policy should become more visible from 2027.
In the third quarter, the net loss attributable to the parent company’s shareholders was $391 million. The result was affected by asset impairments and one-off expenses related to the suspension of operations at ArcelorMittal Kryvyi Rih in Ukraine.
Impairment charges related to the plant amounted to $852 million, while one-off expenses totaled $293 million.
Adjusted net income, excluding these items and their related tax effects, rose from $683 million in the second quarter to $868 million in the third.
Author: SteelRadar editorial team
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