ArcelorMittal confirmed in its 2019 results last week that the global steel market is contiiuing to be affected by a raft of pressures. Despite the challenging results registered last year, the company says however that the slowdown in steel demand is beginning to stabilise. The supportive inventory environment will also help apparent steel consumption (ASC) in core markets grow in 2020.

The steelmaker saw steel shipments fall by -2.5% on-year in the fourth quarter of 2019 to 19.7 million tonnes, while iron ore shipped at market price fell -4% to 9.6mt. Revenue dropped -15% to $15.51 billion and the firm turned to a net loss of $1.88 billion versus a profit a year earlier of $1.19 billion.

Steel shipments in 2019 rose 1% on-year to 84.5mt, but iron ore shipped at market price inched down -1% to 37.1mt. Revenue fell -7% to $70.6 billion and the firm sank to a net loss of $2.45 billion versus a profit in 2018 of $5.15 billion.