Spanish Materials Potentially Undervalued Companies

Tubacex

Market Cap: €407.4m

Engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally.

Acerinox

Market Cap: €4.0b

Manufactures and distributes stainless steel and high-performance alloys in Spain, the United States, Africa, Asia, rest of Europe, and internationally.

ArcelorMittal

Market Cap: €44.2b

Operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa.

Inmocemento

Market Cap: €1.8b

Through its subsidiaries, engages in the cement and real estate businesses in Spain, the United Kingdom, Tunisia, the United States, and internationally.

Asturiana de Laminados

Market Cap: €10.4m

Asturiana De Laminados S.A., trading as elZinc, develops and manufactures rolled zinc strips in Spain and internationally.

ENCE Energía y Celulosa

Market Cap: €587.2m

Produces and sells hardwood pulp and renewable energy in Spain, Germany, Poland, Italy, the Netherlands, the United Kingdom, Greece, France, Turkey, and internationally.

Volcan Compañía MineraA

Market Cap: €5.0b

Explores for and operates mining concessions in Peru, Europe, Asia, and the United States.

Usinas Siderúrgicas de Minas Gerais

Market Cap: €9.7b

Operates in the steel industry and related activities in Brazil and internationally.

Plásticos Compuestos

Market Cap: €9.9m

Engages in the design and manufacture of mineral loads, colour and additive concentrates, and other compounds for the plastic processing industry in Spain, rest of Europe, and internationally.

Minerales y Productos Derivados

Market Cap: €3.9m

Produces, sells, and markets minerals and chemical products in Spain, rest of Europe, Africa, and the Americas.

Ercros

Market Cap: €317.7m

Manufactures and sells chemical and pharmaceutical products in Spain and internationally.

Vidrala

Market Cap: €3.1b

Engages in the manufacture and sale of glass containers for food and beverage products in the United Kingdom, Ireland, Italy, Iberian Peninsula, rest of Europe, and Brazil.

Bradespar

Market Cap: €8.0b

Through its interest in VALE, operates as a mining company in the production of iron ore and pellets, and nickel in Brazil.

Miquel y Costas & Miquel

Market Cap: €525.9m

Engages in the manufacture and sale of thin and special lightweight paper for the tobacco industry in Spain, the European Union, OECD countries, and internationally.