European steel manufacturers and mining stocks soar after ceasefire agreement is reached

LootboxPhobia · 2026-04-08T13:49:42+00:00

Investing.com - After a two-week ceasefire agreement between the US and Iran, European steel manufacturers and mining stocks surged on Wednesday, easing energy supply concerns and generally boosting metal prices.As of 07:35 AM Eastern Time(, 11:35 AM Greenwich Mean Time), shares of Salzgitter, ArcelorMittal, Aperam, ThyssenKrupp, Acerinox, Otto Kunz, and SSAB rose between 7.5% and 16.5%.Follow real-time stock movements and analyst updates on InvestingPro - Up to 50% offEuropean steel producers are highly sensitive to energy costs, which have been a pressure on the sector since the escalation of Middle East conflicts.Expectations of a potential disruption in the Strait of Hormuz supply drove oil prices sharply lower on Wednesday, providing relief for energy-intensive industries.Mining stocks also rose

LootboxPhobia

2026-04-08 13:49:42

Investing.com - European steelmakers and mining stocks surged on Wednesday after a two-week ceasefire agreement between the US and Iran, easing energy supply concerns and lifting metal prices broadly.

As of 07:35 AM Eastern Time (11:35 AM Greenwich Mean Time), shares of Salzgitter, ArcelorMittal, Aperam, Thyssenkrupp, Acerinox, Outokumpu, and SSAB rose between 7.5% and 16.5%.

Follow live stock price moves and analyst updates on InvestingPro - Up to 50% off

European steel producers are extremely sensitive to energy costs, and since the escalation of the conflict in the Middle East, energy costs have been weighing on this sector.

Expectations that a supply disruption in the Strait of Hormuz may ease helped drive oil prices sharply lower on Wednesday, bringing relief to energy-intensive industries.

Mining stocks also saw a similar trend. In the London FT100, copper miner Antofagasta jumped 12.4%, Anglo American Resources rose 10.1%, and precious-metals specialist Fresnillo gained 10.6%. Endeavour Mining rose 6.7%, Rio Tinto climbed 4.7%, while Glencore was basically flat.

In the FT250 index, RHI Magnesita, Hochschild Mining, Pan African Resources, and Atalaya Mining all rose by more than 7%.

Spot gold rose to above $4,800 per ounce from below $4,650 per ounce in the prior trading session. Silver gained more than 5.5% to above $77 per ounce, hitting a three-week high, while copper prices also moved higher.

US President Donald Trump and Iran’s foreign minister said they had reached a ceasefire agreement, and Israel also agreed to the ceasefire.

Although this two-week ceasefire agreement is far from a lasting solution, it gives markets an immediate pressure-release valve: oil prices have fallen sharply, and market expectations are that traffic through the Strait of Hormuz (with disruption volumes having reached as high as 20% of global supply) may start to return to normal.

Analysts said that even a partial resumption of freight through the waterway would represent a major shift in energy supply dynamics, helping to remove some of the risk premium that has built up in commodity markets over the past few weeks.

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