APEMY - Can Acerniox Deliver A Stronger Second Half?
One of the strongest bullish arguments for Acerinox (ANIOY) has been that the company’s strong leverage to the U.S. market (40% of production capacity) would significantly improve its pricing outlook and shield it from at least some of the risks of import competition in markets like Europe. Although that has been the case, and Acerinox has outperformed other stainless steel names like Outokumpu (OUTKY) and Aperam (APEMY), as well as other European steel names like voestalpine (VLPNY) and ArcelorMittal (MT) (which is really more of