JPMorgan analysts in a client note said global second-largest steelmaker ArcelorMittal is optimistic on the industry, a positive for European steel. ArcelorMittal’s Q3 results beat expectations. The company said EU protection measures, including higher tariffs on certain non-EU imports, are helping firms reset product pricing to offset elevated energy costs. JPMorgan described this as a "positive signal" for the European steel outlook through 2027, supporting steel spreads and a quarter-on-quart

JPMorgan analysts in a client note said global second-largest steelmaker ArcelorMittal is optimistic on the industry, a positive for European steel. ArcelorMittal’s Q3 results beat expectations. The company said EU protection measures, including higher tariffs on certain non-EU imports, are helping firms reset product pricing to offset elevated energy costs. JPMorgan described this as a "positive signal" for the European steel outlook through 2027, supporting steel spreads and a quarter-on-quarter recovery in corporate earnings despite a persistently high-cost environment.