Spanish stainless steel producer Acerinox S.A. has reported a net profit of €57.91 million for the first quarter this year, compared to a net profit of €97.95 million in the corresponding quarter of 2017, while its net sales came to €1.25 billion, remaining stable year on year.
In the first quarter, the company's hot rolled product output decreased by 2.5 percent to 577,500 mt, while its cold rolled product production totaled 461,600 mt, rising by 5.3 percent, both compared to the same quarter of the previous year.
According to Acerinox, the second quarter of this year will reflect the high demand existing in all the markets, encouraged by the rises in nickel and ferrochrome prices. The prices in the European market will depend on the differential with the Asian market and the effects of the protectionism in the United States. However, Acerinox stated that it will benefit from the strength of the United States, its main market, where there have already been three price increases.