Finland ‘s Outokumpu forecasts its stainless steel deliveries in Q2 to increase 5-15%
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Update time : 2024-05-09 17:06:54
After a challenging end to 2023, Outokumpu began 2024 on a relatively positive note. However, unexpected political strikes in Finland significantly impacted operations, with most activities and the port in Tornio shut down for four weeks. Despite the disruptions, Outokumpu managed to limit the negative impact to EUR 60 million, down from the earlier estimate of EUR 80 million.
In the first quarter of 2024, Outokumpu reported an adjusted EBITDA of EUR 38 million, with the political strike accounting for approximately EUR 30 million of the decline. Regarding the outlook for the second quarter, the group of stainless steel deliveries is forecasted to increase by 5-15% compared to the first quarter. The recent political strike was expected to cause a negative financial impact of EUR 30 million.
Japanese aluminium buyers recently agreed to pay premium above $170/t for Q3 shipments
