Finland-based stainless steel producer Outokumpu has announced that it has introduced a graphite electrode upcharge for all stainless steel products with immediate effect.
The company stated that the tight supply situation within the graphite electrode market has led to limited global availability of graphite electrodes and sharp increases in their prices, which has in turn led to a significant increase in the production costs of stainless steel.
Accordingly, the initial electrode upcharge will be €30/mt, and it concerns all new contracts and spot orders in Europe, the Middle East, Africa, Australia and Asia as of September 26. Outokumpu will update the graphite electrode upcharge monthly.