Outokumpu predicts its stainless steel shipment may drop 10-20% q-o-q in Q2
According to the market in the EU, some of the stainless steel manufacturers, including Outokumpu, mentioned that the demand for stainless steel in the EU might plunge in the second quarter this year, due to the impact of the COVID-19.
As Outokumpu for example, the shipment of stainless steel for the second quarter was expected to drop 10-20% quarter on quarter, and Outokumpu was kept negotiating with the union and government that it would suspend the work if necessary.
In the first quarter this year, Outokumpu’s total shipment of stainless steel was around 590,000 tons, lower than the same period last year’s 620,000 tons, but still grew from the previous quarter’s 460,000 tons.
