Weak stainless prices dents Acerinox earnings

Apr 23, 2013 | 05:47 PM | Elfi Middelbeek

Tags  Acerinox, North American Stainless, stainless steel, nickel, earnings report, Elfi Middelbeek

LONDON — Acerinox SA, parent company of North American Stainless Inc. (NAS), saw a sharp drop in first-quarter earnings due to falling nickel and stainless steel base prices, the company said April 23.

The Madrid-based stainless producer posted net income of €15.31 million ($19.9 million) for the three months ended March 31, down 47.9 percent from €29.36 million in the same period last year. Sales fell 15.8 percent to €1.04 billion ($1.35 billion) from €1.23 billion in the same comparison due to fewer sales, lower stainless steel prices and nickel....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events