Stainless steel consumption in Acerinox’s markets increased by about 8% in the first quarter of 2012, the Spanish group said in its quarterly financial report on Friday April 27.
The rise in consumption created the conditions for an increase in stainless steel base prices in January and an additional price increase in April, the company said
This was particularly evident in the US market, which has been in “clear” recovery since last November, it said.
“Practically all sectors – even those related to construction, such as sinks and white goods – are in sound recovery and our customers and sellers are optimistic,” the company said.
“[This] is favouring [Acerinox’s] North American Stainless [division], which is outperforming the market and reaching high levels of competitiveness,” it said.
Acerinox’s North American operation was founded in 1990 and is based in Carroll County, Kentucky. It produced 270,700 tonnes in the first quarter of 2012, up by 3.8% year-on-year, according to Acerinox’s report.