Spanish Materials Potentially Undervalued Companies

Tubacex

Market Cap: €359.5m

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

Usinas Siderúrgicas de Minas Gerais

Market Cap: €8.6b

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

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.

ArcelorMittal

Market Cap: €47.2b

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

Asturiana de Laminados

Market Cap: €9.7m

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

Vidrala

Market Cap: €3.2b

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.

Volcan Compañía MineraA

Market Cap: €4.8b

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

Plásticos Compuestos

Market Cap: €11.0m

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.

Aperam

Market Cap: €3.3b

Produces and sells stainless steel and alloy products worldwide.

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: €319.1m

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

ENCE Energía y Celulosa

Market Cap: €616.2m

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

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: €497.7m

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.