Spain's Acerinox sees steady Q3 after June inflection point

摘要

Spanish stainless steel producer Acerinox saw an inflection point in June and is forecasting a third quarter in line with the second quarter, which saw steady earnings and falling volumes, the company said July 27."The significant cost reductions we are carrying out, combined with the improved relative performance of our main market, the US, and the signs of recovery of the European market, allow us to expect a third quarter in line with the second in terms of both activity and EBITDA, provided no setbacks occur in the economic recovery process," the company said.