According to CoinMeta, analysts at JPMorgan Chase stated in a report to investors that ArcelorMittal, the world's second-largest steel producer, is optimistic about the industry's prospects, which is positive for the European steel industry. ArcelorMittal's profits in the third quarter exceeded market expectations. The company mentioned that EU measures to protect the steel industry, including imposing higher tariffs on some imported products from regions outside the EU, are helping industry companies adjust their product pricing, thereby offsetting the cost pressures caused by high energy prices. JPMorgan Chase said this signals "positive signs" for the European steel industry's outlook until 2027, which should help maintain steel price differentials and drive a gradual recovery in corporate profits, even as the industry remains in an environment of high costs.