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ubs upgrades outlook for european steel stocks amid improving market conditions

UBS has upgraded its outlook for European steel stocks, citing improved market conditions and policy support, particularly from the EU's Steel Action Plan. The reallocation of investment from the U.S. to Europe, along with Germany's infrastructure spending, is expected to enhance demand, despite potential risks from U.S. trade tariffs. ArcelorMittal and SSAB are highlighted as attractive investments, while voestalpine's growth potential is limited by low free cash flow.
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