Spanish stainless steel producer Acerinox S.A. has reported a net profit of €97.95 million for the first quarter this year, compared to a net loss of €8.31 million in the corresponding quarter of 2016, while its net sales came to €1.25 billion, rising by 31.4 percent year on year, as a result of the increase in activity and the rises in final prices in all markets.
In the first quarter, the company's hot rolled product output increased by 12.6 percent to 592,500 mt, while its cold rolled product production totaled 438,300 mt, rising 4.8 percent, both compared to the same quarter of the previous year.
According to Acerinox, real consumption has maintained positive growth rates in all markets. The increases in raw material prices which occurred at the end of 2016 have accelerated the company’s sales and led to an improvement in its prices. The positive trend of the first quarter will continue in the second quarter, although there will be no benefit from the revaluation of raw materials.