Outokumpu, a leading European stainless steel producer based in Finland, forecasted that stainless steel deliveries will increase by 5 to 15% in the first quarter of 2024 compared to the previous quarter.
The company's maintenance costs are expected to decrease by approximately EUR 20 million tons in the first quarter of this year compared to the previous quarter. Adjusted EBITDA is expected to remain at the same level as the previous quarter.
American market will weaken at the end of the fourth quarter, while the European market will see a slow recovery.
Nevertheless, due to the weak ferrochrome market, Outokumpu suspended the operation of a ferrochrome furnace and a sintering facility in January this year and current ferrochrome production is running at 80% of its full capacity
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