ArcelorMittal Climbs on Signs EU Trade Case on Steel May Widen
- Wider anti-dumping probe would improve steel sentiment: RBC
- Salzgitter rises, along with other gains in commodities
An industrial crane lifts a coil of galvanised steel at the Uttam Galva Steels Ltd manufacturing facility in Khopoli, Maharashtra, India, on Friday, June 13, 2014. The rupee’s 4.4 percent rally in 2014 is the best in Asia and contrasts with a 3.1 percent slump in China’s yuan, the region’s worst performer. The currency’s strength is a concern for ArcelorMittal’s local unit Uttam Galva Steels Ltd., which competes with Chinese producers of the alloy.
Photographer: Vivek Prakash/BloombergArcelorMittal SA, the world’s biggest steel producer, climbed on speculation that the European Commission may extend its anti-dumping investigation on imports of hot-rolled coil to more countries.
ArcelorMittal shares added 6.6 percent to 4.31 euros as of 11:16 a.m. in Amsterdam, reaching the highest level in two weeks. The stock has rallied 12 percent in the past three days.