ArcelorMittal reduced its EBITDA by 4.5% in the first quarter of 2025 compared to the fourth quarter, to $1.58 billion, the company said in a statement. Compared to the same period last year, the figure fell by 19.2%.
The quarterly decline in EBITDA was due to weather conditions in Brazil, while prices and costs in Europe also had a negative impact on the figure, along with a decline in financial results in India. At the same time, EBITDA was supported by an improved situation in North America, including higher production volumes and a positive effect from price increases.
Operating profit in the last quarter amounted to $825 million, compared to $529 million in the previous period and $1.072 billion a year earlier. The figure was impacted by impairment charges of $80 million related to the closure of the South African facility, among other things.
Net profit in January-March amounted to $805 million, compared to a loss of $390 million a quarter earlier and a profit of $938 million in Q1 2024. The quarterly increase was driven by higher operating profit, foreign exchange gains (mainly due to the depreciation of the US dollar) and lower taxes.
Revenue increased by 0.6% last quarter to $14.798 billion, amounting to $14.798 billion. In the first quarter of 2024, revenue was $16.282 billion.
ArcelorMittal’s capex in January-March amounted to $1 billion. The capex target for this year is $4.5-5 billion, including $1.4-1.5 billion for strategic projects and $300-400 million for decarbonization projects.
In the first quarter, the company increased steel production by 5.7% compared to the previous three months, to 14.8 million tons (14.4 million tons a year earlier). The company shipped 13.6 million tons of steel last quarter (13.5 million tons in the previous quarter and a year earlier). Iron ore production in the quarter decreased by 6.3% to 11.8 million tonnes (10.2 million tonnes a year earlier).
In January-March this year, Dneprometiz-TAS LLC (Dnipro), owned by Ukrainian businessman Sergiy Tigipko, increased its net profit by 0.6% year-on-year to UAH 3.938 million.
According to the company’s interim report, net income decreased by 0.58% to UAH 778.319 million in the period under review.
At the same time, the company’s retained earnings amounted to UAH 266.986 million at the end of March.
As reported, in 2024, Dneprometiz-TAS increased its net profit by 47.7% compared to 2023 – to UAH 14.197 million from UAH 9.610 million, while net income increased by 22.7% to UAH 3 billion 285.688 million. At the same time, the company’s retained earnings amounted to UAH 263.048 million at the end of 2024.
“In 2023, Dneprometiz reduced its net profit by 2.6 times compared to 2022, to UAH 9.658 million from UAH 24.733 million. Last year, net income increased by 8.2% to UAH 2 billion 677.836 million.
“In 2022, Dneprometiz reduced its net profit six times year-on-year to UAH 25.572 million, while net income increased by 1.1% to UAH 2 billion 474.397 million.
“Dneprometiz-TAS produces hardware products from low-carbon steels. The company’s annual production capacity is 120 thousand tons.
The company is owned by T.A.S. Overseas Investments Limited (Cyprus) owns 98.6578 percent of Dneprometiz LLC.
The authorized capital of Dneprometiz-TAS LLC is UAH 83.480 million.
“Open4Business has analyzed the world’s copper producers in 2024. According to the International Copper Study Group (ICSG) and the United States Geological Survey (USGS), global copper production reached 23 million tons in 2024, up 3.2% year-on-year.
Top 20 copper producing countries in 2024
Rank Country Production volume (mln tons)
1 Chile 5.3
2 Democratic Republic of the Congo 3.3
3 Peru 2.6
4 China 1.8
5 Indonesia 1.1
6 USA 1.1
7 Russia 0.93
8 Australia 0.8
9 Kazakhstan 0.74
10 Mexico 0.7
11 Zambia 0.65
12 Canada 0.6
13 Poland 0.5
14 Brazil 0.4
15 Mongolia 0.35
16 Iran 0.3
17 Armenia 0.25
18 Serbia 0.2
19 Bolivia 0.18
20 Turkey 0.15
The first four months of 2025 in the cryptocurrency market were marked by high volatility, shifts in investor sentiment and increased influence of macroeconomic factors. Despite short-term corrections, the market retains the potential for growth in the second quarter.
Total capitalization and market dynamics
Peak capitalization: $3.8 trillion (January 18, 2025).
Quarterly low: $2.7 trillion (end of March 2025).
Current capitalization: $2.97 trillion (as of April 29, 2025).
Bitcoin’s share: 63.56% of total capitalization.
The 18.6% decline in capitalization in the first quarter was due to macroeconomic uncertainties, including trade tariffs and interest rate fluctuations.
Market leaders and outsiders
Leaders:
FARTCOIN: up 100% for the week of April due to increased demand for meme tokens.
Hyperliquid (HYPE): up 30% after breaking the downtrend.
Curve DAO (CRV): up 20%, recovering above the 20-day EMA.
Outsiders:
Pi Network (PI): down 36% due to selling pressure.
Story Protocol (IP): Down 25%, continuing decline since late March.
Jupiter (JUP): Down 23.5%, hitting a new low.
Key trends
Bitcoin dominance: increase to 63.56%, indicating investors’ preference for more stable assets.
Declining market activity: average daily trading volume fell 27.3% in the first quarter, reflecting investor caution.
Macroeconomic impact: trade tariffs and US Federal Reserve policy put pressure on the market, causing short-term corrections.
Near-term outlook
Analysts expect that the market could recover in the second quarter of 2025, especially if the macroeconomic situation stabilizes. Bitcoin is seen as a potential safe haven asset amid economic uncertainty. However, investors should be prepared for continued volatility and keep a close eye on macroeconomic indicators and regulatory developments.
The Hungarian parliament has voted to withdraw from the International Criminal Court (ICC), becoming the first European Union country to do so. Foreign Minister Péter Szijjártó said that the ICC had lost its impartiality and credibility, turning into a politicized institution.
The decision to withdraw coincided with Israeli Prime Minister Benjamin Netanyahu’s visit to Budapest. Netanyahu, against whom the ICC has issued an arrest warrant on charges of war crimes in Gaza, thanked the Hungarian leadership for its “courageous and principled” decision.
According to the Rome Statute, withdrawal from the ICC takes effect one year after the official notification to the UN. Until then, Hungary is obliged to fulfill its obligations, including cooperation with the court.
States parties and non-parties to the ICC
As of April 2025, 125 states are parties to the Rome Statute, including all countries of the European Union, except for Hungary after its decision to withdraw. Among the participants are Canada, Australia, the United Kingdom, France, Germany, Japan, South Korea, Ukraine, and most countries in Latin America and Africa.
Some major powers are not members of the ICC.
The United States: signed the Rome Statute in 2000 but has not ratified it.
China: has neither signed nor ratified the Statute.
Russia: signed the Statute in 2000, but withdrew its signature in 2016.
India: has neither signed nor ratified the statute.
Israel: signed but did not ratify the charter and withdrew its signature in 2002.
Before Hungary, only two countries have officially withdrawn from the ICC.
Burundi: in 2017.
Philippines: in 2019.
Hungary’s decision may cause tensions with other EU countries that remain committed to the principles of international justice.
Global demand for gold, excluding over-the-counter (OTC) transactions, amounted to 1.31 thousand tons in the first quarter of 2025, which is 16% higher than the result for the same period last year, according to the World Gold Council (WGC). Demand for jewelry fell to its lowest level since the COVID-19 pandemic in 2020 due to high prices. However, a sharp influx of gold into ETFs increased investment demand 2.7 times to 552 tons, the highest level since the first quarter of 2022. Demand for coins and bars also remains above average.
Gold production reached a record high for the first quarter of 856 tons. Overall, supply grew by 1% to 1,206 thousand tons. The market deficit was covered by OTC.
