ArcelorMittal Full-Year Report 2022

Average steel selling prices increased by 16.6% for the year ended December 31, 2022 as compared to the year ended December 31, 2021 in line with the sharp increase in international steel selling prices in the first half of 2022, following the start of the Russia-Ukraine conflict: average steel selling prices increased by 37.7% in the first half of 2022 as compared to the first half of 2021 and decreased by 1.9% in the second half of 2022 in line with international prices, as compared to the second half of 2021.

ArcelorMittal had sales of $79.8 billion for the year ended December 31, 2022, representing a 4.3% increase from sales of $76.6 billion for the year ended December 31, 2021, primarily due to 16.6% higher average steel selling prices partly offset by 11.2% lower steel shipments. In the first half of 2022, sales were $44.0 billion increasing from $35.5 billion in the first half of 2021, primarily due to 37.7% higher average steel selling prices partly offset by 8.7% lower steel shipments, In the second half of 2022, sales of $35.9 billion represented a 12.6% decrease as compared to sales of $41.0 billion in the second half of 2021, primarily driven by a 1.9% decrease in average steel selling prices and 13.7% lower steel shipments.