On July 26, Luxembourg-headquartered global
stainless steel producer Aperam SA, which was spun off by
ArcelorMittal and separately listed at the start of the year, announced its financial results for the second quarter of the current year. Accordingly, sales in the second quarter of this year increased slightly by two percent to $1.708 billion compared to $1.681 billion in the first quarter of 2011. Shipments in the second quarter amounted to 439,000 mt, decreasing by 13,000 mt or three percent compared to 452,000 mt recorded in the first quarter of this year. Aperam SA said that its EBITDA was $102 million in the second quarter of 2011, compared to EBITDA of $139 million in the first quarter. Commenting on the company’s results, Aperam’s CEO Bernard Fontana stated, “As expected, the decline in nickel prices and the general economic uncertainty experienced in Q2 2011 led customers to adopt a ‘wait and see’ behavior which had a negative impact on pricing. However, recently we have started to see signs of market stabilization, which gives us confidence for the end of the year.”