Reuters reported Luxemborg’s stainless steel producer, Aperam (EPA:APAM) suffered losses in the first quarter of 2012 due primarily to low cost nickel.
As quoted in the market news:
The price of nickel has fallen by over 5 percent in the past six months to $17,355 per tonne, according to Datastream.
Aperam, the world’s sixth-largest stainless steel producer, which was floated by ArcelorMittal a year ago, said its first-quarter core profit was 64 million euros ($82.76 million), while analysts had been expecting 94 million euros, according to a Reuters poll.
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