ArcelorMittal warns against trade interruptions while steel prices are rising

(Bloomberg) – ArcelorMittal SA said the support of the Government for domestic steel makers in the US and Europe is raising prices, but warns of possible disruption of global trade uncertainty. This could lead to a lower demand for steel than the company – the world’s largest steel maker outside China – led in February, ArcelorMittal said in a statement on Wednesday. “If we look forward, some caution about the short -term prospects is appropriate,” CEO Aditya Mittal said in the statement. “Increased uncertainty about the conditions of global trade causes the confidence of trust and the risks that cause further economic disruptions if it is not resolved quickly.” A wave of cheap supplies from China has reduced prices over the past few years, although they have returned somewhat in the first quarter, as the country promises to reduce production. It is unclear whether the expanding trade war will eventually benefit or damage the business. ArcelorMittal has significant material flow from the operations of Canada and Mexico in the US, where steel imports are now subject to a 25% tariff, although higher prices can compensate it. Tighter precautions in Europe and India may also increase earnings in those regions. Earlier this month, the European Union said it would delay the implementation of its tariffs against the US for 90 days in response to the levies imposed by steel and aluminum. However, the block warned that the measures would be in place if negotiations did not produce satisfactory results. The earnings of the steel maker were slightly above the expectations of the analysts, aided by a strong performance by the iron ore mining industry. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 30 Apr 2025, 11:13 am Ist