ArcelorMittal First Quarter Earnings Beat Estimates

ARCELORMITTAL, the world's second largest steelmaker, reported first-quarter core earnings of $1.68B, exceeding analyst estimates of $1.65B as steel prices rose. The Luxembourg-based company benefited from a 22% increase in European hot rolled coil prices over the last six months. New EU trade protections and carbon levies are among the factors driving improved profitability for ArcelorMittal.

### Policy Shifts Drive Performance CEO Aditya Mittal said business fundamentals improved during the first quarter due to a favorable structural reset in European policy. The European Commission will implement a high-carbon goods levy and a new trade policy to halve imports into the bloc, set to come into place from July.