Acerinox considers raising prices in the US market

Acerinox, a global producer of stainless steel and high-strength alloys, is considering raising some prices in the US market, Reuters reports.

As CEO Bernardo Velazquez said during a conference call, Acerinox is trying to raise prices in the US, but this is not easy in the current circumstances.

However, there will be no significant increases in the third quarter, as price adjustments are not usually made during summer, added Chief Corporate Officer Miguel Ferrandis. According to him, the issue will be considered at the end of September. The decision will also depend on factors such as market visibility, a potential EU-US trade agreement, and clarity regarding the war in Ukraine.

Acerinox benefits from Trump’s tariffs as the largest stainless steel producer in the US.

According to the company’s statement, tariff barriers will strengthen the position of local steelmakers. This could lead to increased demand for Acerinox products and potentially improve the group’s profitability in this key region.

However, as Bernardo Velázquez noted, there is a risk that imports of Asian materials will be redirected from the US market to Europe. A significant increase in steel imports to the EU, often at prices below cost, puts pressure on the cost of metal products and profits in the region, which negatively affects Acerinox’s operations in Europe.

The EU must protect its industry and economy by strengthening trade protection measures, according to the company’s CEO.

According to Acerinox’s latest report, consolidated production for the first six months of 2025 increased by 17% – to 1.01 million tons. Revenue in January-June increased by 10% y/y to €3.05 billion, while EBIDTA in the first half of the year fell by 9% y/y – to €214 million.

Global stainless steel production in the first quarter of 2025 increased by 6.2% year-on-year – to 15.55 million tons. Compared to the previous quarter, the figure decreased by 6.2%, according to data from the World Stainless Association.