Luxembourg-based stainless and specialty steel producer has issued an update on its market and financial outlook ahead of entering its quiet period prior to the release of its quarterly results on February 6, 2026.
Market conditions under pressure
According to the producer, market conditions in Europe remain challenging, with the order book showing no signs of recovery, and any demand increase being driven only by seasonal effects. In Brazil, demand has weakened further due to seasonality, while the market has also faced price pressure from non-stainless imports.
The company stated that its alloys segment was negatively affected by seasonality and maintenance work on a key asset, which has now returned to operation. However, as previously forecast, oil and gas demand remains weak.
Regulatory measures to have limited impact
According to Aperam, several European Commission trade defense measures are still under discussion and require formal adoption. As a result, no material impact is expected before July 1, 2026. The company also reiterated that the Carbon Border Adjustment Mechanism (CBAM) will initially have a limited impact, with positive effects expected to ramp up progressively over the coming years, in line with the published implementation timeline.
