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Nov 6 (Reuters) – European stainless steel producer Aperam (APAM.AS) reported worse-than-expected third-quarter core earnings on Friday, as demand in Europe and prices of stainless and electrical steel failed to pick up.
Low steel prices in Europe, weighed down by cheap Asian imports, had pushed Aperam to diversify out of the continent at the start of the decade. That has come at a cost, as the company now stands to benefit less from the EU measures to defend local steel production.
- Adjusted core earnings were €105 million ($118 million) in the quarter, while analysts polled by LSEG had forecast €111.4 million on average
- They were lower quarter-on-quarter due to a typical seasonal slowdown in key markets, Aperam said
- The company said European seasonality led to lower activity across three of its four divisions
- Aperam shares have fallen about 3% since the start of 2026
- Spanish peer Acerinox (ACX.MC), also recently warned of a protracted recovery for the European stainless steel market into early 2027
($1 = 0.8930 euros)
Reporting by Javi West Larrañaga in Gdansk, editing by Milla Nissi-Prussak
