Frankfurt (dpa-AfX)-growing optimism for the European steel industry further advanced the strong recovery of the Thyssenkrupp share on Tuesday. Shortly after the start of trade, she took the hurdle of 10 euros and approaches her recent intermediate high again. At just under 11 euros, the paper on March 19th had climbed to the highest level since November 2021. The announced investments in armaments and infrastructure as well as the US trade war are the main drivers, which are generally currently driving up the sector.
Around noon, the Thyssenkrupp share in the increasing overall market increased 9.8 percent to EUR 10.38. The competitor Salzgitter share won 5.3 percent to 24.72 euros and that of the steel dealer Klöckner & Co (Klöcknerco (Klöco)) made 5.4 percent to 7.77 euros. All three are among the top favorites of investors in the still young year. With an increase of 165 percent, Thyssenkrupp has been taking first place under the MDAX values since the beginning of the year.
The Klöco share has first place in SDAX, with plus 76 percent. Salzgitter has risen by 58 percent since the beginning of the year and is therefore the fourth strongest value in the small-scale index.
The mood in the sector also remained good Europe: Voestalpine, ArcelorMittal or SSAB (SSAB B) also rose significantly between 2.4 and 4.0 percent on Tuesday.
“At Thyssenkrupp, several positive aspects are currently coming together,” said stock expert Andreas Lipkow the good run of the papers. It helps that the marine division is seen as a armaments group and could thus be provided with a valuation surcharge during the planned IPO. In addition, the planned US criminal offenses led to higher international steel prices, which could lead to a fundamental reorganization on the steel market. “The previous dumping prices could hardly be pushed through in the previous form and European steel producers such as Thyssenkrupp can also benefit from this.”
The day before, after numerous previous positive analyst studies on European steel manufacturers, Boris Bourdet from Kepler Cheuvreux had now commented accordingly. Like many other analysts, he sees the steel industry in Europe in the face of the escalating US trade dispute and above all the investment measures announced by EU and Germany in the areas of armor and infrastructure before a reassessment. The People’s Republic of China may also be urged to stop her oversupply on steel, with which she floods the world market, he wrote.
Other analysts, such as Dominic O’Kane from JPMorgan or Dirk Schlamp from DZ Bank, also see further factors for a redevelopment by reconstruction of Ukraine in the event of peace and possibly falling energy prices. Because: Peace in Ukraine could lead to a possible additional steel demand. Falling prices for electricity and gas are also helpful for the very energy -intensive steel industry.
“Overall, the signs for the steel industry in general and the battered Thyssenkrupp group have been good again in particular for a long time,” said Lipkow. “At Thyssenkrupp, however, it must now be shown whether the management knows how to use the current situation and the group is also restructured.”/CK/NAS/MIS
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