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.
