According to report, Stainless steelmaker Apream reported its third quarter operating losses of US$29 million from US$19 million in the second quarter and US$20 million in the same period of 2011.
Though the market prices and seasonality leaded to lower result for the third quarter, the company completed several investment projects.
In the third quarter, its sales of stainless and electrical steel were down by 16% to US$930 million from US$1,108 million in the second quarter.
In the given period of time, the deliveries were 370,000 tons including 219,000 tons to Europe and 151,000 tons to South America, down by 56,000 tons from 426,000 tons in the second quarter.
The company expects the base price will rise by the end of year. Also, it is positive about the higher import duties in Brazil. However, the market uncertainty will still be the major concern.