Overview
- ArcelorMittal’s half-year net profit rose 39 percent to $2.6 billion driven by a $1.7 billion exceptional gain from acquiring Nippon Steel’s stake in its U.S. joint venture.
- Core operating earnings slipped 10 percent to $3.4 billion after President Trump doubled U.S. steel tariffs to 50 percent in June.
- The company raised its forecast of the annual tariff hit to $150 million, up from $100 million in February, reflecting the impact of steeper import duties.
- In June ArcelorMittal took full ownership of its Calvert, Alabama, plant and commissioned a new electric-arc furnace capable of producing 1.5 million metric tonnes of low-CO2 steel annually.
- The company spans operations in 15 countries and is sharing duties with customers, cutting costs and urging the EU to impose safeguards against cheap imports.