ArcelorMittal Nippon Steel India clocks 59 per cent increase in EBITDA

Sequentially, however, the firm's EBITDA was 21% primarily due to lower steel selling prices and higher costs (including coking coal and power), the company said

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, recorded a 58.75 per cent year-on-year increase in EBITDA to $435 million in the December quarter on higher realisation.

Crude steel production was 1.84 million tonnes (mt) compared to 1.88 mt in the year-ago period. Quarter-on-quarter, however, AM/NS India EBITDA of $435 million was 21 per cent lower as compared to $551 million primarily due to lower steel selling prices and higher costs (including coking coal and power costs), the company said.

The figures were disclosed as part of ArcelorMittal’s Q42021 and FY2021 financial results; the