The company’s 2020 steel production and sales declined by 8.6pc and 6.8pc to 9.5mn and 9.3mn mt respectively. However, it expects Brazil’s increased investments in new infrastructure projects to boost the steel industry.
ArcelorMittal Brasil reiterated in its financial results 2020 release on April 13. that growth in the steel industry will also be directly related to the success of vaccination campaigns across the country.
The company’s steel production fell by 8.6pc to 9.5mn mt in 2020, from 10.4mn mt in 2019, due to a fall in steel demand recorded in the first half of 2020 following the effects of the COVID-19 pandemic, it said without disclosing its crude steel production nor further details.
ArcelorMittal Brasil’s sales also declined by 6.8pc to 9.3mn mt in 2020, from 10mn mt in 2019. Of the total sales, 67pc was sold in the domestic market and 33pc shipped abroad, it said.
The global steelmaker’s net profit increased by 15pc to BRL1.23bn ($217.4mn) in 2020, from BRL1.06bn in 2019.
ArcelorMittal Brasil’s Ebitda reached BRL5.1bn in 2020, from BRL4bn in 2019, and its net revenue increased to BRL33.1bn in 2020, from BRL32.4bn in 2019.