Aperam, a European stainless steel company, reported Q4 2025 adjusted EBITDA of €67 million, slightly below market expectations and over 40% lower year-on-year. This decline was attributed to continued weak demand and a 16% yearly drop in average selling prices.

The company nonetheless anticipates an operational improvement in the first quarter of 2026.

New EU measures, including the Carbon Border Adjustment Mechanism (CBAM), are expected to support regional producers. Analysts predict these factors will gradually accelerate price growth in the region, aiding a potential return to profitability.