Outokumpu halts US expansion and nuclear plans amid weak market, expects Q1 recovery
March 3, 2025
Outokumpu has postponed plans to expand stainless steel production in the U.S. and develop small nuclear production in Finland due to a weak market and high import pressure. While this decision was made before new steel tariffs, the company still sees the U.S. market as attractive and believes tariffs help limit cheap imports from Asia.
The company reported a small core loss of 3 million euros for Q4, as expected. However, analysts considered it a less severe outcome after a December warning. Outokumpu expects its stainless steel deliveries to grow by 10% to 20% in Q1 and a quarter-on-quarter improvement in EBITDA, despite a 15 million euro hit from a strike in Finland.
Source: Yieh Corp
