Acerinox's crude stainless steel & net profit drop in Q1
Acerinox, one of the leading producers of stainless steel in Spain and the world, reported its crude stainless steel during the first quarter of 2020 was down by 5% year on year to around 599,900 tons.
The output of hot-rolled stainless steel products also declined by 3% year on year to around 520,000 tons, that of cold-rolled stainless steel products slid by 7% year on year to around 390,000 tons, and that of hot-rolled stainless steel long products also reduced by 14% year on year to around 57,000 tons.
Besides, Acerinox's net profit attribute to shareholders had a year-on-year reduction of 14% during the period, reaching around EUR 28 million.
