Outokumpu shows support for EU trade decisions

Outokumpu has confirmed its approval of the latest extension of EU safeguard measures for three years, as well as the imposition in May of provisional anti-dumping duties on stainless cold rolled coil from India and Indonesia.

The company calculates that CR imports into Europe reached an import penetration of 25% in the second quarter, in line with Q1 but below the peak of some 30% in Q3 last year, Kallanish notes. Indonesian imports saw an important decrease following the imposition of AD duties.

“The second quarter was eventful in terms of trade regulation,” says Outokumpu president and chief executive Heikki Malinene. “We were pleased to see that the EU safeguard measures were extended for another three years until June 2024. In addition, the EU imposed provisional anti-dumping duties on cold rolled stainless steel from Indonesia and India. These regulatory measures are important steps to ensure a level playing field in Europe for sustainable stainless steel.”

Regarding safeguard quotas, Outokumpu reported stainless CRC utilisation in Q3 so far has been 37% and for HRC 34%. The only supplier close to reaching a critical level of safeguard utilisation rate for stainless CRC is Turkey, having used some 75% of the allocated volumes.

The company also welcomed the first steps initiated by the European Commission on the Carbon Border Adjustment Mechanism (CBAM), which will include stainless products but not ferrochrome.

Emanuele Norsa Italy