ACERINOX: PRICE INCREASE IN THE US (ANÁLISIS BANCO SABADELL)
ACX has just announced a price increase of US$ 65/80/ Mt in the US (+5%/+6% on the base price), to be applied on 1 Jan 2021.This is very positive news that shows the good demand situation in the US market, where protectionist measures also help. We estimate that this price increase will have an impact of €~30 M on EBITDA on an annual basis (+7% vs. our EBITDA’21 estimate), which would more than offset the negative impact from the dollar’s depreciation on the company’s P&L statement (we recall that the US market represents ~90% of the Group’s EBITDA).
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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