India: AM/NS reports 2%, q-o-q, drop in crude steel production in Q4CY’21

Integrated steelmaker ArcelorMittal Nippon Steel (AM/NS) India has recorded crude steel production at 1.85 mnt in Q4CY’21, down 2% against 1.89 mnt in Q3CY’21.

• The company’s steel sales, too, edged down 2% to 1.73 mnt in Q4 versus 1.77 mnt in Q3.
• EBITDA fell by 21% to $435 million during the period against $551 million in Q3 primarily because of steel prices and higher coal and power costs.