J.P. Morgan shifts stainless steel ratings as EU trade and carbon rules loom
J.P. Morgan updated coverage across several European steel names, upgrading Aperam to overweight while downgrading Acerinox and cutting SSAB to neutral. The moves reflect differing company exposures to European end-markets and anticipated policy changes: an EU proposal to reduce duty-free steel imports by roughly 40% and the next phase of the Carbo…