ArcelorMittal is trading 4.3% up at $65.64 in pre-market following a fresh upgrade from BNP Paribas.
- BNP Paribas named ArcelorMittal its top steel pick, citing an expected recovery in steel prices and tighter import quotas.
- The stock is benefiting from continued positive sentiment surrounding strong demand and ongoing share buyback support.
- The gain significantly outperforms a mixed broader market, driven by the improved sector outlook and analyst conviction.