European steelmakers slip with Trump set to announce metal tariffs

Kloeckner & Co SE

10/02/2025 08:15

(Adds analysts' comments in bullets 3-6)
    ** Shares in some European steel firms are down in early
Monday trade after U.S. President Donald Trump said on Sunday he
will introduce new tariffs on all steel and aluminium imports
    ** The world's second-largest steelmaker ArcelorMittal
 MT.AS  slides 2.3% at 0811 GMT
        ** It could face headwinds in North America as the bulk
of its U.S. sales are made of imports from Canada and Mexico,
ODDO says
  
        ** Norwegian aluminium producer Norsk Hydro  NHY.OL  is
down 0.8%, Finnish stainless steel maker Outokumpu  OUT1V.HE 
slides 0.6%
  
        ** Austrian steelmaker Voestalpine  VOES.VI  slips 1%
  
        ** Germany's Thyssenkrupp  TKAG.DE , Salzgitter
 SZGG.DE , Kloeckner  KCOGn.DE  are down between 0.5% and 1%
    ** "On Salzgitter I don't see any big impact since the
company only exports limited volumes of tubes to the US from
Europe," ODDO analyst Maxime Kogge told Reuters

 (Reporting by Paolo Laudani)
 ((mailto:Paolo.laudani@thomsonreuters.com))