【European Steel Recovery Supports Metallurgical Coal Market as ArcelorMittal Sees Stronger Q3 Demand】

Published: Aug 3, 2026 11:08

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ArcelorMittal, the world's second-largest steelmaker, reported second-quarter core EBITDA of US$2.06 billion, beating the market consensus of US$2.01 billion by approximately US$50 million (+2.5%). The company expects European steel shipments to remain stable or edge higher in the third quarter, defying the usual seasonal slowdown. Supported by tighter EU import measures and rising steel prices, ArcelorMittal has restarted three blast furnaces and said it has further production flexibility if demand continues to improve. European crude steel production also increased by around 11% from the first quarter.

Firmer steel prices and blast furnace restarts indicate continued improvement in European steelmaking activity, providing near-term support for seaborne metallurgical coal and coke demand. While the current recovery is not yet sufficient to shift the global supply-demand balance, further production restarts across Europe could strengthen support for international metallurgical coal prices.

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