Huge Demand for Appliances, Autos Could Help Acerinox Stock Soar 50%

 Huge Demand for Appliances, Autos Could Help Acerinox Stock Soar 50%

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Cold-rolled steel on coils are stored in a hall. Demand for steel is giving a boost to Spanish manufacturer Acerinox.


INA FASSBENDER/AFP/Getty Images

The performance of stainless steel manufacturer Acerinox is closely linked to the expansion of global economies, which means the stock was hit hard by slumping demand during the height of the pandemic.

The Madrid-based company, which makes and distributes hot- and cold-rolled stainless steel used in the aerospace and automotive industries and in household goods such as washing machines, was operating at just 65% capacity in the second quarter of 2020. Its shares (ticker: ACX.Spain) fell 32% from December 2019 to October 2020….


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