Eramet : No respite on falling commodities prices, target price adjusted to € 89
>No improvement on the price front - While the main large miners (Rio Tinto, BHP, Anglo American) are currently benefiting from high prices for copper and particularly iron, this is not the case for Eramet which is mainly exposed to manganese and nickel. The signs of recovery from China have not seen an upturn in manganese prices which continue to be hit by abundant supply and massive stocks in Chinese ports. Manganese alloy prices in Europe have also returned to thei...Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
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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