This significant growth can be attributed to higher steel shipments and reduced costs, including gains from unblocking natural gas. However, compared to the previous quarter (Q2CY23), EBITDA decreased by 5.3% from $563 million to $533 million. This decrease is partially attributable to a lower average steel selling price offset by increased steel shipments and lower costs.
In the third quarter of 2023 (3QCY23), crude steel production increased by 8.4%, reaching 1.9 million tonnes compared to 1.8 million tonnes in the second quarter of 2023 (2QCY23). Additionally, there is a growth of 16.8% compared to the same period in the previous year, 3QCY22, which was affected by planned maintenance.
Steel shipments in 3QCY23 also increased by 11.6% to 1.9 million tonnes compared to 1.7 million tonnes in 2QCY23 and a significant increase of 14.7% compared to 3QCY22.
ArcelorMittal reported a 12.4% decline in sales in 3CY23, totaling $16.6 billion, compared to the same period in CY22.
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