Aperam Suffers From Low Nickel Costs

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.

Click here to read the full Reuters report.