Company: MT
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001243429-25-000067
Chunk: 18

Company: ArcelorMittal
Filing Date: 2025-08-01
Form: 6-K
Chunk 18
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 foreign exchange exposure relating to the euro, Brazilian real, Canadian dollar, Indian rupee, South African rand, Mexican peso, Polish zloty, Argentinian peso and Ukrainian hryvnia against the U.S. dollar resulting from its payables, receivables, or other foreign operations denominated in such currencies. See also note 10 to the interim condensed consolidated financial statements.

Trade and import competition

Europe

During the first half of 2025, while there was little growth in ASC, imports were relatively stable around second half of 2024 levels, and estimated to be approximately 5% lower year-on-year. As a result, import penetration decreased slightly to 19% (from 20% in 2024).

Source: Eurostat imports to March 2025, internal company estimate for the second quarter of 2025. ASC data from Eurofer to March 2025, internal company estimates for the second quarter of 2025.

United States

During the first half of 2025, with the 25% tariff on steel products starting in March 2025 and increasing to 50% effective from June 2025, imports fell sharply, by approximately 11%. Coupled with broadly stable ASC, import penetration fell to approximately 20% during the first half of 2025.

Source: American Iron and Steel Association total/regional imports data and ASC data to May 2025, internal Company estimate for June 2025.

China

During the first half of 2025, due to persistent weak domestic demand, Chinese steel producers continued to maintain exports at high levels, with finished steel exports rising by 8% year-on-year, averaging 9.7 million tonnes per month. Overall, in the first half of 2025, Chinese finished steel exports rose to an annual rate of approximately 117 million tonnes.

While most Chinese exports are delivered to regions which are not core to the Company’s business due to the protection of trade measures, Chinese exports still negatively impact the Company both directly and indirectly. See "Business overview—Government regulations—Foreign trade" and "Introduction—Risk Factors and Control—Risks related to the global economy and the mining and steel industry—Unfair trade practices, import tariffs and/or barriers to free trade could negatively affect steel prices and ArcelorMittal’s results of operations in various markets" in the 2024 Annual Report.

Source: China NBS trade data until June 2025. Trade flows by destination to May, internal company estimate