Higher stainless price increases lift Outokumpu profit expectations

Stainless steel supplier Outokumpu confirms it is expecting third-quarter Ebitda to be above Q2. This exceeds previous expectations.

The supplier notes that stainless steel prices have “increased more than expected”. The company sees delivered volumes growing 8% on-quarter in Q3, with realised prices set to be higher than expected.

“Outokumpu had earlier expected its third-quarter adjusted Ebitda to be at a similar level compared to the second quarter of 2021 (Q2/21: EUR 223 million)”, the company explains.

According to Kallanish reference transaction prices, stainless steel HRC has jumped a further €800-1,000/tonne ($923-1,154) in Europe since June.

Emanuele Norsa Italy