Acerinox reduces output in Spain

Acerinox's Spanish production sites have been operating at reduced capacity since October 12, following the initiation of a new round of the temporary employment regulation file (ERTE).

According to market participants, Acerinox's move was surprising after its main European production site was out for almost five months this year due to the strike. However, it could help stabilize prices in the European stainless steel market by contributing to balancing supply and demand. The EU mills have been under increased pressure after the summer holidays due to persistently weak demand, volatile raw material costs, and a surge in imports, with foreign suppliers offering competitive prices and fast delivery. Continue Reading? Please click box below!