Outokumpu expects higher Q2 earnings in stable market

Outokumpu expects higher quarter-on-quarter earnings in April-June 2019, with “no significant changes” anticipated in the stainless steel market’s dynamics, it said on Tuesday May 7.

The Finnish stainless steelmaker expects its stainless steel deliveries for the second quarter to remain at a similar level to the 621,000 tonnes delivered in the first quarter of 2019. This was down from 644,000 tonnes in the first quarter of 2018. Fastmarkets MB’s weekly transaction price assessment for Europe domestic grade-304 cold-rolled 2mm stainless sheets has averaged €2,245 ($2,513) per tonne delivered so far over the second quarter of 2019, up from an average of €2,083 per tonne in the first quarter of 2019. The company’s ferro-chrome segment’s second-quarter results will also be supported...

Published

Viral Shah

May 07, 2019

18:31 GMT

Istanbul