SSAB shares rise on tariffs on US imports, ArcelorMittal, Outokumpu take a hit

SSAB AB

03/02/2025 10:37

(Recasts, updates share moves)
    ** Shares in Swedish steelmaker SSAB  SSABa.ST , which has
production facilities in the U.S. and gets about 35-40% of its
sales from the country, rise 2.5% as U.S. President Donald Trump
on Saturday imposed tariffs on imports from Mexico, Canada and
China
        ** ArcelorMittal  MT.AS  and Finnish peer Outokumpu
 OUT1V.HE  slide about 4% and 2%, respectively
    ** J.P.Morgan notes that ArcelorMittal derives about 15%
of sales from USA, the majority of which are steel exports from
Mexico and Canada
    ** In case of Outokumpu, about 30% of sales are from North
America with dependence on Mexico due to the group's San Luis
Potosi stainless steel plant, the brokerage says
    ** JPM also notes that the new 10% tariffs
on China reintroduces interconnected downside risks to base
metal prices and US dollar/Chinese yuan exchange rate
    ** Shares in Spain's Acerinox  ACX.MC , which has the
highest US-based steel footprint of European listed steel
producers, are up slightly

    

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))