Finland-based stainless steel producer Outokumpu has announced its adjusted EBITDA guidance for the fourth quarter of this year. The company expects its adjusted EBITDA to be lower compared to €86 million in the third quarter.
Due to recent adverse developments in business area Europe, the weaker-than-expected stainless steel market and the longer-than-planned annual maintenance break at the Tornio site in Finland, the company’s adjusted EBITDA is expected to be close to break-even or turn negative for the fourth quarter.
In addition, Outokumpu’s stainless steel deliveries in the fourth quarter are expected to decrease by 0-10 percent compared to the third quarter. The company’s stainless steel deliveries in the third quarter this year amounted to 459,000 mt, as SteelOrbis previously reported.