Outokumpu affected by strike in Finland

In its January-March interim report; Outokumpu stated that second quarter stainless steel deliveries are expected to increase by 5-15% compared to the first quarter. According to the report, the company emphasised that 444.00 tonnes of stainless steel deliveries were made in the first quarter of this year, while 505.00 tonnes were delivered in the first quarter of 2023. The decline in the first quarter is said to be caused by the unexpected four-week political strike in Finland. Except for the strike, which also affected Europe, a gradual increase in the steel market is predicted.

Heiki Malinen, President and CEO of Outokumpu, said that the recent political strike in Finland is expected to have a negative financial impact of approximately EUR 30 million in the second quarter. However, at the same time, the Group's stainless steel deliveries in the second quarter are expected to increase by 5-15 per cent compared to the first quarter.