Finland-based stainless steel producer Outokumpu has announced that it has further downgraded its expectations for the first quarter of this year since the political strike aimed against the Finnish government will continue to the end of this month.
As a result, the company expects its adjusted EBITDA to decrease by about €65 million. Most of Outokumpu’s stainless steel and ferrochrome operations along with Tornio port have not been operational since the beginning of the strike and the company’s plants in other countries are indirectly affected by material flow interruptions.
Also, stainless steel deliveries are forecast to be slightly lower compared to the fourth quarter of last year.
Last week, the Finnish producer had first downgraded its guidance for the given period for the same reason, as SteelOrbis reported previously.