Industry News

Outokumpu foresees drop in Q3 stainless steel delivery

Views : 259
Update time : 2020-08-10 19:32:09
Because of the low demand in Europe and the impact of the Covid-19 epidemic impact, Outokumpu forecasted that its stainless steel deliveries will decrease by 10% in the third quarter compared to the previous quarter.

Outokumpu is facing continuous pressure in the import and price sector in the European stainless steel market. The sales of Outokumpu in the second quarter fell by 10% year on year and dropped by 11% quarter on quarter, reaching 523,000 tonnes.

As for the revenue, the sales have decreased by 17% year on year and slid by 12% quarter on quarter to EUR 1.4 billion.

In addition, the sales in American have reduced by 20% during the period compared to last quarter on distributor destocking and the COVID epidemic.
Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11