ACERINOX: CONFIRMS TALKS WITH APERAM - THE CORRECTION IS A BUYING OPPORTUNITY (ANÁLISIS BANCO SABADELL)
ACX is sliding -5% (it has climbed +22% from April’s lows) after confirming it is in talks with Aperam (APAM). In this regard, we believe that this correction represents a BUYING opportunity and that the market is pricing in the following facts: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.
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