(Reuters) -ArcelorMittal, the world’s second largest steelmaker, reported third-quarter core profit in line with market expectations on Thursday and gave a positive outlook for 2026.
The Luxembourg-based company posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.51 billion in the quarter, broadly in line with analysts’ average estimate of $1.50 billion, according to data compiled by LSEG.
“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,” chief executive Aditya Mittal said in a statement.
Still, overall demand remained weak in the quarter and there were no signs of restocking as customers maintain a “wait and see” approach, the company said.
Western steelmakers have welcomed an increase of protectionism in the countries where they manufacture, after the U.S. hiked tariffs on steel to 50% in June and the European Commission announced plans for higher import quotas and heavier duties on volumes above those levels in October.
They have long argued against what they call global overcapacity and pressure from cheaper imported steel from Asia.
(Reporting by Javi West Larrañaga, editing by Matt Scuffham)
