A summary of stainless steel producer Acerinox's financial results for October-December and the full year of 2019.
In briefThe Spain-based company reported lower production as a result of reduced consumption, caused by the uncertainty and geopolitical tensions arising from the UK's departure from the Europan Union as well as increasing protectionism globally.Reduced earnings were linked to a provision of ?,?38 million ($41.6 million) for layoffs in Acerinox Europa.Demand in the European markets, particularly in Germany and Italy, decreased on the economic slowdown, despite the European Commission's safeguard measures.The US market reported a 10% drop...