AT A GLANCE: Outokumpu sees strong Q2, expects seasonally weak Q3

A summary of Finland-based stainless steel producer Outokumpu’s results for the second quarter of 2021.

In brief

The company managed to increase steel deliveries by 20% year-on-year thanks to the improved market fundamentals in all business areas, considering that the reference period in 2020 was much weaker due to the demand slump created by the Covid-19 pandemic. Increased stainless steel prices in both Europe and the United States boosted Outokumpu’s profitability for the quarter. Fastmarkets’ assessment of the stainless steel cold-rolled sheet, 2mm, grade 304, base price domestic, delivered Northern Europe, averaged €1,116.93 per tonne in the second quarter of 2021, sharply up from €725 per tonne in the second...

Published

Julia Bolotova

August 10, 2021

13:12 GMT

Dnipro