Finland-based stainless steelmaker Outokumpu estimated higher delivery volumes quarter-on-quarter, continued improvement in profitability and slightly positive underlying EBIT in its first quarter guidance. The company currently expects to report stainless steel deliveries at 620,000 mt and underlying EBIT at €2 million.
According to Outokumpu, stainless steel imports from Asia into Americas have continued to increase, and the demand from the distributor sector has been weak due to elevated stock levels as well as low nickel price. Due to these difficult market conditions and the delivery challenges caused by the technical issues in Calvert in the second half of 2014, the Coil Americas' order intake is lagging behind even though the technical issues have been resolved. The delivery volumes have remained sequentially flat in Coil Americas and the 2015 volume outlook for the business area is revised downwards from 620,000 mt to around 540,000 mt.