Acerinox : Record earnings in 2021 whilst those of 2022 should remain high. Valuation remains very attractive
>The fundamentals remain solid - Demand remains robust in Europe and the US. By segment, household appliances, construction, chemical and oil & gas remain weak. Visibility extends to Q1 2021. Management seems confident that the recent agreement to end the US-EU steel trade dispute (known as Section 232) will have a moderate impact on imports (not offsetting the loss from the closure of ATI). The agreement would be based on a duty-free volume quota for EU producers bey...Acerinox is the parent company of a group engaged in the manufacture and sale of flat and long stainless steel products, and stainless steel wires. Co.'s major products include slabs, billets, black coils, plates, hot-rolled coils, hot-rolled sheets, flat bars, hot-rolled re-bars, hot-rolled black bars, engraved sheets, cold-rolled coils, cold-rolled sheets and circles. Co. also provides long stainless steel products, such as wire rods, angles, hot rolled flat bars, hot rolled re-bars, reinforced bars in coils, cold rolled re-bars, hot rolled black bars, cold drawn bars, and smooth turned bars. In addition, Co. offers wires, welding wire bars, and bars for electrodes.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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