Company: MT
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001243429-25-000067
Chunk: 10

Company: ArcelorMittal
Filing Date: 2025-08-01
Form: 6-K
Chunk 10
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-year production in developed markets was mainly driven by lower production in Developed Asia, reflecting a combination of factors, including weak domestic steel demand, particularly in the construction sector in both Japan and South Korea, as well as high exports from China. In Europe, production is usually seasonally weak in the second half of the year due to weak August and December. Therefore, despite production during the first half of 2025, average 10.9 million tonnes, being higher than the second half of 2024 (10.4 million tonnes), it was still down by approximately 3% year-on-year relative to first half of 2024 (average production was 11.2 million tonnes). In the U.S., steel production was more stable, similar to the first half of 2024.

| Interim Management Report |     | 7 |

Business overview continued

In contrast to developed markets, steel production in developing ex-China was stable year-on-year during the first half of 2025. This was mainly driven by strong production in India. Production also increased year-on-year in ASEAN. However, this was offset by weaker production elsewhere, with lower year-on-year production in the first half of 2025, such as CIS, the Middle East and Turkey. Source: Global steel production data above is for 61 countries for which monthly crude steel production data is published by the World Steel Association, which accounts for 97% of world production. Production data is available until June 2025. 61 countries include: Austria, Belgium, Finland, France, Germany, Greece, Italy, Luxembourg, Netherlands, Spain, Sweden, United Kingdom, Turkey, Norway, Canada, Mexico, United States, Argentina, Brazil, Chile, Colombia, Ecuador, Peru, Venezuela, Egypt, South Africa, Libya, Kazakhstan, Russia, Ukraine, Iran, Saudi Arabia, United Arab Emirates, Japan, South Korea, Taiwan, China, India, Pakistan, Thailand, Vietnam, Australia and New Zealand. Steel prices In relation to flat products, after a downward trend throughout 2024, European hot rolled coil ("HRC") prices (both Northern and Southern) and U.S. domestic Midwest HRC prices showed a positive trend in the first two quarters of 2025. Meanwhile, Chinese HRC prices (excluding VAT) continued their downward trajectory. Regarding long products, European medium sections and rebar prices also increased during the first half of 2025, while Turkish rebar prices followed an opposite trend during the same period. Movements in steel