Steelmaker ArcelorMittal Overcomes Headwinds to Report Strong Gains in Third Quarter

SUGAR LAND--November 12, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite supply-chain issues, a drop in shipments and weaker demand from automotive customers, global steel producer ArcelorMittal S.A. (NYSE:MT) (Luxembourg, Luxembourg) reported its highest quarterly profit since 2008 on Thursday. Higher steel price spreads more than offset the lower steel shipments, according to the company. Industrial Info is tracking more than $9 billion worth of active capital projects by ArcelorMittal, including its joint-venture projects in the U.S.