European steel stocks rise on tariff relief, expected price hikes

SSAB AB

22/01/2026 11:08

** Shares in European steelmakers rise amid broader market relief that the U.S. will not impose tariffs against eight European countries in relation to Greenland

** ArcelorMittal's MT.AS announcement on Wednesday of hot rolled coil price increases also helps buoy the sector, says Oddo BHF analyst Maxime Kogge

** "Given ArcelorMittal's leadership, the hike is expected to be followed by peers including Salzgitter SZGG.DE, ThyssenKrupp TKAG.DE and SSAB SSABa.ST," Kogge says

** Shares in ArcelorMittal jump 4.2% to 14-year highs

** Germany's Thyssenkrupp and Salzgitter are up 5.6% and 2%, respectively, despite the latter being downgraded by UBS

** Acerinox ACX.MC rises 3.9%, while Aperam APAM.AS trails behind with a 1.1% increase

** Outokumpu OUT1V.HE and SSAB SSABa.ST rise 3% and 3.7%, respectively

(Reporting by Javi West Larrañaga)

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