Spanish stainless steel producer Acerinox reported a 39% year-on-year decrease in earnings in the first quarter of 2018 in a financial statement published on Friday April 27.
Earnings before, interest, taxes, depreciation and amortization (Ebitda) dropped to ?,?118 million ($143.01 million) in January-March. This was "lower than in the same period of the previous year, when [Ebitda] was boosted by sharp increases in [the costs of] raw materials," Acerinox said.Ebitda was ?,?191.24 million in the first quarter of 2017.The company's net sales for January-March 2018 came to ?,?1.25 billion, up by 0.1% year-on-year.The company's total production of crude stainless steel was 668,076 tonnes in January-March 2017, up by 0.1% from the previous year. Output of cold-rolled steel, driven by good demand, was 461,565 tonnes, up by...