European steel stocks fall, Baader says tariffs may trigger profit taking

Kloeckner & Co SE

07/04/2025 08:46

** European iron and steel stocks continue to fall, with Baader Helvea analysts saying new U.S. tariffs might trigger profit taking

** The European STOXX 600 Basic Resources .SXPP index is down 6.4% at 0712 GMT

** "We expect European steel stock to enter a phase of profit taking and high volatility," Baader says

** "The directly impacted volumes might be less than 10% of total volume," Baader says, but adds that many customer industries exporting to the U.S. might be affected

** This will "at least add uncertainty and might result in a more cautious buying behavior from customers and consumers", it adds

** Germany's Thyssenkrupp TKAG.DE, Salzgitter SZGG.DE, Aurubis NAFG.DE, Kloeckner KCOGn.DE drop between 4.3% and 10.6%; Austria's Voestalpine VOES.VI down 7.3%

** Acerinox ACX.MC falls 7.4%, Aperam APAM.AS and ArcelorMittal MT.AS are down 6.7% and 7.2% respectively

** Outokumpu OUT1V.HE and SSAB SSABa.ST fall 5.1% and 6.3% respectively

 (Reporting by Anastasiia Kozlova and Anna Peverieri)

 ((Anastasiia.Kozlova@thomsonreuters.com))