Aperam, a stainless steel manufacturer bases in Luxembourg, reported its stainless steel shipment outside Europe and Brazil totaled around 376,000 tons in the second quarter, dropping by 19% compared to the same period a year ago. The firm’s shipment in the first half of this year also declined by 16% year on year to 814,000 tons. The decrease was mainly due to sluggish demand caused by the COVID-19 epidemic.

Coupled with weaker prices, Aperam’s sales and EBITDA also reduced by 25% and 48% year on year, respectively.

Timoteo Di Maulo, CEO of Aperam, said that the firm was expected to stay at a level worse than historical ones despite a recovering demand, and the third-quarter challenge will be tougher.