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Outokumpu's Q3 stainless steel sales slump, will limit capex, cut jobs

Update time : 2020-11-06 21:58:59

London — Major Nordic-based stainless steel and ferrochrome producer Outokumpu said Nov. 5 it expects the COVID-19 pandemic to have a "significant impact" on the stainless market throughout 2020. The company announced plans to cut headcount by around 10% as it seeks to optimize costs to better compete with growing import levels into the EU.

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