The European Union plans to raise tariffs on steel imports, European steel stocks rise

European steel stocks rose during trading, with ArcelorMittal's share price increasing by as much as 4.4%, Voestalpine AG rising by as much as 4.7% to a new high in over two years, Outokumpu Oyj increasing by as much as 5%, and SSAB AB rising by as much as 8.7%. The European Union plans to raise steel import tariffs to help domestic producers cope with the impacts of U.S. trade barriers and other factors