Canada
November 11, 2025
ArcelorMittal exec upbeat on N. America
Written by Ethan Bernard
ArcelorMittal sees green shoots in North America despite tepid demand.
Executive VP and CFO Genuino Christino said demand is moving sideways in the US. “But I would say that when I look at our business, Calvert is running absolutely full. We had record levels of production shipments (in Q3’25),” he stated on an earnings call late last week.
He noted the two segments where the Luxembourg-based steelmaker is focused in the US, energy and automotive, are doing “relatively well.”
ArcelorMittal completed its acquisition of Nippon Steel’s 50% stake in the Calvert, Ala., EAF mill joint venture in June. Getting rid of its Calvert stake was a condition of the Japanese steelmaker’s purchase of U.S. Steel.
The steelmaker has noted the ramp-up of its new EAF in Calvert is ongoing. The latest expectation is to end the year with a run rate between 40% and 50%. The mill has also started the qualifications process.
Additionally, Christino said ArcelorMittal sees potential in both Canada and Mexico, where it also has operations. Domestic demand in those nations has been significantly affected by both tariffs and trade uncertainty between the three governments in North America.
(For a description of the company’s setbacks in Mexico, click here.)
Genuino is hopeful that Canada, the US, and Mexico, “maybe as part of the (upcoming) USMCA negotiations in 2026, will also come to an agreement.”
Trade negotiations ahead of the USMCA talks recently stalled between the US and Canada, while US discussions with Mexico are ongoing. However, the situation is always fluid.
“That would be very, very good, if you have the whole USMCA with similar rules, similar protection,” Christino said. “That would be extremely positive.”
Specifically for Canada, commented Christino, “We believe that Canada should put in place a much stronger trade protection to make sure that the industry can again also regain market share vis-a-vis imports.”
As previously reported, ArcelorMittal Dofasco in Canada is raising spot sheet prices by a minimum of CA$100 per short ton (US$71/st), effective immediately with the Nov. 5 announcement.
