Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 177

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 177
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 Q2 2024               |                                                                           111.80 |                                                                        243.83 |
| Q3 2024               |                                                                            99.75 |                                                                        211.44 |
| Q4 2024               |                                                                           103.40 |                                                                        203.96 |

Scrap The Company refers to the German suppliers’ index Delivered at Place as its market reference.

97

| Management report |

The average index price for 2024 was €359/t as compared to €365/t in 2023, a €6/t or 2% decrease compared to 2023. The average price in 2022 was €409/t. Turkey remains the main scrap buying country in the international market. Scrap Index HMS 1&2 CFR Turkey, North Europe origin, started January 2024 at $414/t and reached the yearly low of $341/t in December 2024. Scrap Index HMS 1&2 CFR Turkey, North Europe origin, started January 2023 at $407/t and ended at $415/t in December 2023 (after reaching $357/t in October 2023). In 2024, the average prices for European domestic scrap price of grade 3 were $389/t. In 2023, average European domestic scrap prices of grade 3 were at $395/t. In the domestic U.S. market, HMS 1 delivered Midwest index decreased from an average of $349/t in 2023 to $330/t in 2024 and decreased from an average of $387/t in 2022 to $349/t in 2023. On the export market, HMS export FOB New York average prices for 2024 were at $347/t, a decrease of $17/t compared to 2023. Ferro alloys and base metals Ferro alloys The underlying price driver for manganese alloys is ordinarily the price of manganese ore, which was at the level of $5.53 per dry metric tonne unit (“dmtu”) (for 44% lump ore) on Cost, Insurance and Freight (“CIF”) China for 2024, representing a 5.93% increase from $5.22/dmtu in 2023 ($5.97/dmtu in 2022). High carbon ferro manganese prices increased by 4% from $1,244/t in 2023 to $1,292/t in 2024 ($2,042/t in 2022), silicon manganese increased by 6