Steel News

We strive to let you one step ahead of the market.

Outokumpu sees European recovery and looks out for investment opportunities in US

9 Feb 2024 15:29 reported by Margaret Yeh

A A A
Finnish stainless steel maker Outokumpu said it expected a recovery in its business in Europe. Pia Aaltonen-Forsell, the Chief Financial Officer, said recovery has not yet been strong enough to actually come back to previous profit levels commonly in Europe, but they have seen some recovery.

Low growth in Europe has caused the Finnish group to focus on investment opportunities in the US, and it planned to expand production with a new hot-rolling mill while eventually extending its deal to procure hot-rolling products from ArcelorMittal Nippon Steel.

However, on cold rolling, Aaltonen-Forsell said the group was still short, and they kept on exploring options for a possible investment into cold rolling.

Back to Steel News

Related News

Brazil’s Gerdau considers downside of Brazilian operations

  • Industry activities
  • 23 Feb 2024 17:23

Ukrainian Metinvest's 2023 steel output reduces due to war losses

  • Industry activities
  • 23 Feb 2024 17:11

thyssenkrupp Electrical Steel to supply CO2-reduced electrical steel to Siemens Energy for offshore wind farms

  • Industry activities
  • 23 Feb 2024 16:41

Salzgitter & Octopus Energy sign power purchase agreement for green steel production

  • Industry activities
  • 22 Feb 2024 17:06

Germany's Sunfire installs 20 MW electrolysis plant in Harjavalta, Finland

  • Industry activities
  • 22 Feb 2024 16:20

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,348.00
  • 2,391.00
  • Aluminum
  • 2,156.50
  • 2,196.50
  • Copper
  • 8,442.00
  • 8,537.00
  • Nickel
  • 17,175.00
  • 17,400.00

Learn more

Coil Exchange Center

  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290
  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290

Learn more