ACERINOX: PROTECTIONIST MEASURES IN EUROPE (ANÁLISIS BANCO SABADELL)
The company has announced that the EU has proposed anti-dumping measures against Indian and Indonesian producers for cold-rolled stainless steel products in the form of a tax of between 13.4% and 34.6% (depending on the manufacturer).MARKET IMPACT
Positive news for ACX, if in the end the tariffs on steel from India and Indonesia are confirmed. We believe these measures should help improve the price scenario in Europe (where ACX has ~30% of its capacity) after several years of strong pressure on prices as a result of the heavy importation (accounting for ~30% of the market). This has substantially reduced the EBITDA contribution from ACX’s European business to
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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