Stainless steel group Aperam expects a slight quarter-on-quarter improvement in earnings in April-June 2018, despite increasing import pressures in the EU market and rising input costs.
It expects earnings before interest, taxes, depreciation and amortization (Ebitda) for the second quarter of the year to be slightly better than the ?,?141 million ($168 million) it reported in January-March 2018."The second-quarter European ferro-chrome benchmark has increased [to $1.42 per lb], while nickel prices have also strengthened. This will support stainless steel prices," Aperam chief executive officer Timoteo Di Maulo said in a conference call on May 9.The London Metal Exchange three-month official nickel bid/offer spread, so far in the second quarter of 2018, has averaged $13,937/13,951 per tonne, compared with...