It's reported that Tubacex, one of the major seamless steel pipe producers in Spain posted net profits of €3.53 million for the first quarter of this year, jumping substantially by 250% year on year, in spite of lower nickel prices in the given period of time. In the first quarter of this year, the average nickel prices dropped by 12% year on year. Tubacex noted a sharp rise in the sale of high-value added products for extraction and for power generation. The overall sales were at €145.5 million, rising by 7.6% year on year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64352&division=A6
