Become a customer

Outokumpu upgrades Q4 guidance after unexpected sales boost

Stainless steel producer Outokumpu has upgraded its guidance for the fourth quarter of 2020 following better-than-expected sales, the Finnish company said on Tuesday December 15.

December 15, 2020
By Ross Yeo
Europe United States

With production facilities in Finland, Sweden, Germany, the UK, Mexico and the United States, and sales offices around the world, Outokumpu now expects its earnings before interest, taxes, depreciation, and amortization (Ebitda) to be higher than the third quarter because stainless steel deliveries are estimated to have increased by about 10-15%.

The increase in deliveries was attributed to a better-than-expected market recovery following the initial Covid-19 restrictions.

Outokumpu previously said that its Ebitda for the fourth quarter would be unchanged from the third quarter at €22 million ($26.7 million).

The fourth-quarter performance is also expected to be supported by improved cost efficiency and the positive impact of raw materials costs.

Fastmarkets’ weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was €2,100-2,130 per tonne on Friday December 11, up from €1,980-2,030 per tonne at the end of the third quarter on September 25.

What to read next
Terminal, Railway, Train
Supply-side shocks add to pulp market momentum in Europe as benchmark prices jump again
Both NBSK pulp and BEK pulp prices jumped up in March, with more price hikes announced
April 18, 2024
 · 
By Steven Sachoff
Box, Cardboard, Carton
Sack kraft paper prices up moving into Q2 as buyers and sellers interpret Q1 differently
The European sack kraft paper market continued to warm into the spring as optimism improved, especially among producers, and price increases for both bleached and unbleached sack kraft paper were applied as Q2 got underway. The UK saw increases of £40/tonne on unbleached paper and £40/tonne on bleached paper, the first of what some contacts […]
April 17, 2024
 · 
By Steven Sachoff
Amendment to frequency of US Midwest low-carbon aluminium differentials
Fastmarkets will amend the frequency of its aluminium low-carbon differential P1020A, US Midwest and its aluminium low-carbon differential value-added product, US Midwest as of the assessment on Friday May 3.
April 16, 2024
 · 
By Yasemin Esmen
Person, Security, Machine
What we learned from day one of the Alkeemia Battery Forum
The EU's Critical Raw Materials Act (CRMA) and supply chain localization were hot topics of discussion for presenters at the Alkeemia Battery Forum, which runs April 10-12 in Venice, Italy
April 12, 2024
 · 
By Alexander Cook
Annual Review of PIX Paper Price Indices Methodology – Final Decision 
Fastmarkets FOEX would like to thank those who took the time to respond to the consultation. Fastmarkets FOEX did not propose any changes to the methodology. The feedback was fully supportive of the current methodology. To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document […]
April 12, 2024
 · 
By the Fastmarkets team
Correction to copper scrap No1 copper buying price on April 9
Fastmarkets has corrected its MB-CU-0302 copper scrap No1 copper, buying price, delivered to brass mill US, US cents/lb, which was published incorrectly on Tuesday April 9.
April 10, 2024
 · 
By Fastmarkets AMM staff