Europe’s major stainless steel producers, Outokumpu and Aperam, reported lower shipments in the third quarter due to weak demand, high customer inventories, and seasonal slowdown. Shipments fell by 12% and 13%, respectively.
Demand from the automotive and appliance industries remained weak, although some industrial sectors benefited from data center projects. Despite lower imports into Europe, overall market demand has not recovered.
Outokumpu expects shipments to decrease by another 5% to 15% in the last quarter of this year and predicts that European demand will remain weak.