ArcelorMittal share loses 2% but maintains +125% over one year
The steelmaker is losing ground this Thursday in a globally cautious Paris market, as Brent crosses $104 per barrel and the ECB announces a rate hike. The decline brings the stock back to just a few euros from its resistance level, in a technical configuration that remains structurally positive over longer timeframes.
Selling pressure that leaves long-term moving averages far below
ArcelorMittal loses 2.02% during the session, at €65.08, in a CAC 40 that declines slightly (-0.32%). This decline places the share among the steepest losses in the Paris index, in a session marked by a volatility spike: the VIX advances more than 12% during the day, signaling unusual nervousness. Despite this decline, the underlying configuration remains solid. The price holds above its 20-day MA at €64.06 (spread of +1.59%), which limits today's pullback to a simple correction, without breaking through a key level.
Over longer horizons, the advance over moving averages is marked: the 50-day MA is at €61.00 (spread of +6.69%), with the price positioned above it, and the 200-day MA at €51.65, representing a spread of 26% — a foundation that reflects the magnitude of the rally initiated over recent months. The RSI at 64 remains in neutral-bullish territory, without extreme overbought signal, while the MACD is positive with a histogram at 0.24, which reflects a dynamic still oriented upward over time. The resistance level at €67.54, reached in early September during the five-year record sequence, remains the next graphical reference in case of recovery.
Macro and sectorial context weighing down: Brent at $104 and ECB rate hike
Today's backdrop weighs on cyclical stocks such as the Luxembourg steelmaker. Brent crossed $104.91 per barrel during the session (+3.66% during the day, +15.8% since end of August), in a context of geopolitical tensions around the Strait of Hormuz that have reduced oil flows since the start of the conflict. This surge in energy is one of the reasons why the ECB, meeting this Thursday, September 10, is expected to raise its deposit rate by 25 basis points, to 2.50%, following a rebound in eurozone inflation to 3.3% in August, driven by energy. This tightening of financial conditions mechanically weighs on industrial sectors with high capital intensity.
For ArcelorMittal, whose guidance published during the Q1 2026 results (published on April 30, 2026) projected production and shipment growth over the full year, the rise in energy costs represents a pressure factor on margins to monitor. The share nonetheless displays +15.39% over three months and +125.1% over one year, which illustrates the vigor of the structural recovery. The support at €57.78 remains far below current prices.
