But ArcelorMittal was able to advance 4.3 percent to $13.10 in New York trade as the world's largest steelmaker defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe.

ArcelorMittal (ADR)(NYSE:MT) moved 1.86 percent higher, at $13.14 and traded between $12.85 and $13.17 after opening the day at $12.90.

ArcelorMittal (ADR)(NYSE:MT)surged up 4.07% and closed at $12.27.The median Wall Street price target on the stock is $17.72 and the high target is set at $27.30 with majority of analysts have a hold rating on the company's stock.

The company reported first-quarter revenue below analysts' estimates. ArcelorMittal ADRs were up 4.6% ahead of the bell after the steel major reported improved results from the preceding fourth quarter and reaffirmed its guidance framework for the full ...

U.S.-listed shares of BH Billiton PLC rose 3.6 percent to $57.56 and Arcelormittal gained 2.4 percent to $12.65. U.S.-traded shares of France's Total were up 1.7 percent at $50.36.

Some other leading steel stocks that are under selling pressure today include Steel Dynamics Inc (NASDAQ:STLD), ArcelorMittal (ADR) (NYSE:MT), and Nucor Corp (NYSE:NUE). All of these leading steel stocks remain in a downtrend on the daily charts.

Let's have a brief look at: United States Steel Corporation (NYSE:X), ArcelorMittal (ADR) (NYSE:MT), Gerdau SA (ADR) (NYSE:GGB), AK Steel Holding Corporation (NYSE:AKS).