ArcelorMittal SA (MT), Europe's largest steelmaker, saw its shares surge 6.17% in pre-market trading on Thursday. The significant uptick comes as the company expresses optimism about potential state support for the steel industry, which could substantially boost its business prospects in the coming year.

The steelmaker's positive outlook is bolstered by reports that the European Union is contemplating protective measures for its steel industry. These measures could include the implementation of hefty tariffs, aimed at safeguarding European steelmakers from international competition. Such protectionist policies, if enacted, would likely provide a significant advantage to ArcelorMittal and other EU-based steel producers.

As the largest steelmaker in Europe, ArcelorMittal stands to benefit considerably from any supportive measures introduced by the EU. The company's shares jumped 5% in the Netherlands market, reflecting investor confidence in the potential positive impact of these developments on ArcelorMittal's future performance and profitability.