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ArcelorMittal loss $559 million

Christian Fernsby ▼ | July 31, 2020
ArcelorMittal suffered a loss of $559 million, worse than the $447 million loss during the same quarter last year.
ArcelorMittal factory
Steel   ArcelorMittal factory
Sales came in at $11 billion, a drop of 43 per cent from the second quarter of last year.

The firm confirmed its goal to reduce debt to $7.0 billion.

“There are now signs of activity picking up, especially in regions where lockdowns have ended, but clearly it is prudent to remain cautious about the outlook,” said chief executive Lakshmi Mittal.