ArcelorMittal Shares Drop Nearly 2% and Fall Below a Technical Threshold
In the mid-afternoon, the Luxembourg-based steelmaker consolidates, despite an overall upward trend in the CAC 40. Following a spectacular year-long rally, the stock is now at the lower end of the Parisian index and has fallen below a short-term technical threshold. This decline occurs as Chinese statistics send mixed signals about global industrial demand.
The Stock Drops Below its 20-Day Moving Average and Slides to the Lower End of the CAC 40
ArcelorMittal has dropped 1.96% to €58.06, down from a previous close of €59.22. This movement stands out in a CAC 40 that has risen by 0.19%, positioning the steelmaker among the largest declines in the leading Paris index alongside Orange and Stellantis. Today's drop has pushed the stock slightly below its 20-day moving average (€58.49), a deviation of -0.74%, which until now had acted as a short-term pivot. However, the cushion remains comfortable over longer horizons: the price is 6.9% above the MM50 and nearly 34% above the MM200, indicating a still distinctly bullish long-term trend. The RSI at 58 remains neutral, sending no extreme signals, while the MACD has moved into slightly negative territory (-0.27), confirming a short-term momentum slowdown. The day's loss brings the weekly performance to +2.9%, without denting the nearly 117% gain over the past year.
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The data released in China provide a mixed signal for the steel industry. Industrial production accelerated to +4.5% year-on-year in May, but retail sales contracted by 0.6%, the first decline since the end of 2022, and fixed asset investment also fell due to the residential real estate sector. This sawtooth growth profile revives doubts about the demand for industrial metals, with Beijing remaining the world's largest consumer. Concurrently, the G7 summit in Évian is reviewing an American memorandum on Iran discussing a gradual reopening of the Strait of Hormuz by June 19, which is affecting Brent prices (-4.3% in session at $79.62/barrel, -16.7% over nine sessions). Today's consolidation also follows several strategic steps largely integrated by the market, including the sale of 10% of Vallourec's capital at €24 per share in May. The identified technical support at €51.26 remains distant, while the €62 resistance targeted during the last bullish phase is the next level to watch in case of a rebound.
Nous restons confiants dans les perspectives d'ArcelorMittal pour le reste de l'année.
Résultats du 1er trimestre démontrant une résilience avec des marges améliorées.
Risks mentioned
Les taux de change et autres charges financières nettes s'élevaient à 80 M$ au 1T 2026.
La dépense d'impôts sur le revenu pour le 1T 2026 était de 136 M$.
L'augmentation de la dette nette à 9,3 milliards $ pourrait affecter la perception des investisseurs.
Pressions sur le coût des matières premières en raison de l'inflation.
Opportunities identified
L'augmentation de la production d'acier brut à 13,3 Mt en 1T 2026.
Le programme d'investissement stratégique en cours offre un potentiel de croissance.
Le redémarrage des hauts-fourneaux inactifs à Fos et Dabrowa a été préparé.
Les investissements dans de nouveaux fours à arc électrique augurent de meilleures performances.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
