ArcelorMittal S.A. reported 13.3 million metric tons of crude steel production in Q1 2026, marking a 3.9% increase from the previous quarter. Steel shipments totaled 12.8 million metric tons, driven by normalized production levels in North America, while iron ore production reached 12.9 million metric tons, with record numbers from Liberia. Year-to-date, MT shares have surged 43.4%, outperforming the Zacks Steel – Producers industry, which grew by 23.6%.
The company plans to invest $4.5-$5 billion in 2026 for capital expenditures, focusing on high-return investments and decarbonization, including establishing a new non-grain-oriented electrical steel plant in Alabama. However, ArcelorMittal also faces challenges due to a slowdown in China’s steel demand, exacerbated by a struggling real estate sector and lower overseas demand.
ArcelorMittal aims to expand its Liberia operations, targeting a full run-rate capacity of over 20 million tons by 2026, amidst pressures from heavy capital expenditures that could impact free cash flow generation in the near term.
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