European steel stocks rise on hopes of China steel export curbs

SSAB AB

02/07/2025 13:06

** Shares in European steelmakers rise after the China Iron & Steel Association proposed restricting exports of certain steel products

** Analysts at ANZ say the proposal could keep more supply within the country and potentially put pressure on prices

** "Sentiment is risk-on today," says Oddo BHF analyst Maxime Kogge, also pointing to comments from China's President Xi Jinping about a crackdown on low-price competition and phase-out of outdated industrial capacity

** "(This) would help reduce steel exports and improve steel prices," Kogge says

** European steel industry group Eurofer has long argued against what it calls unfair competition and Chinese overcapacity pushing prices down

** Shares of Germany's Thyssenkrupp TKAG.DE and Salzgitter SZGG.DE are up 7.6% and 5.3%, respectively

** Acerinox ACX.MC rises 4.1%, Aperam APAM.AS and ArcelorMittal MT.AS are up 4.4% and 5.5%, respectively

** Outokumpu OUT1V.HE and SSAB SSABa.ST rise 4.1% and 5.9%, respectively

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))