Aperam: Trends Review for the Second Quarter of 2026

Aperam, the stainless steel production company, has announced its guidance for the second quarter of 2026. The company anticipates adjusted EBITDA significantly higher than the €90 million recorded in the first quarter, with a consensus estimate of €121 million. This performance is expected to be driven by the seasonal strength of the Brazilian market and improved utilization of its European plants, attributed to a decrease in imports. Net financial debt is expected to decline slightly, reflecting continued capital efficiency.

From a trade perspective, the European climate remains challenging despite a rebound driven by trade defense measures. The Alloys and Specialties sector continues to thrive, supported by strong demand in electronics, aerospace, and liquefied natural gas. Regulatory measures, such as CBAM and strengthened trade defenses, are expected to have lasting positive effects.