While that isn’t terrible given how many stocks in the materials sector have struggled, but there could be something in the chart that is a good sign for Arcelor. Looking at the daily chart, we see that the stock hit a low at $23.80 back on October 26.There is still resistance looming overhead at the $28 level, but that is 12.9% above yesterday’s closing price. Arcelor’s fundamental measurements are all over the place.

Tariffs on imported steel boosted U.S. Steel Corp. ‘s financials. The steelmaker experienced a +38% surge in its operating profit in Q2, on the back of a 5%-10% increase in prices of its U.S.-made steel and solid shipments growth.Along with U.S. Steel, several steel players such as Nucor, Reliance Steel and Aluminum and AK Steel have also apparently benefited from tariff-induced tailwinds.