Acerinox SA said net profit dropped to EUR 154 million in the full year to December from EUR 313 million a year earlier, hit by falling stainless steel prices and a EUR 41.6 million write down in the fourth quarter against the falling value of the group’s nickel stocks. Acerinox said revenues grew to EUR 4.213 billion from EUR 4.035 billion. Looking ahead, the company said it sees an upward trend in demand reflected in price increases for February, March and April.
