Eramet : Tough momentum and guidance at risk, target price lowered to € 126
>Worsening market environment, no clear improvement expected in H2 - Like other miners, Eramet is up against a tough market context with prices dragged down by the disappointing reopening post-Covid in China. The situation is tougher in nickel given that, in addition to weak demand in China, the market is under pressure from an influx of supply from Indonesia following the record prices seen last year. NPI (nickel pig iron) is down 19% since the start of the year and ...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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