Spain-based stainless producer Acerinox said that the European apparent demand for stainless steel dropped by 6.8% year on year in the first quarter of this year. However, the US apparent demand for stainless steel increased by 9.2% year on year in the first two months of this year. Meanwhile, Acerinox posted profits in the first quarter of this year after two quarters of losses; nevertheless, its net profit to drop by almost half, in comparison of the figures in the same period of a year ago. Besides, Acerinox pointed out that there are no recovery signs in the demand from end-users in Europe. Also, it said that the merger between Outokumpu and Inoxum and the sales of the Italian Terni will bring uncertainty to the European market. In addition, the company said that price recovery did not materialize completely in the US market due to pressure of low-priced imports.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64106&division=A1
