Finland-based stainless steel producer Outokumpu has announced that it has decided not to invest in cold rolling capacity expansion in the US at this point of time given the current unpredictable market environment, resulting from the imposition by the US of 25 percent import tariffs on steel. The fact that the US tariff implementation may significantly affect the analysis conducted prior to this announcement plays a role in this decision. However, the company said that it remains committed to the US market and will follow closely the impact of the new tariffs.
In August 2023, the company started doing a feasibility study with the aim of exploring options to expand operations in the US and was planning to increase its current cold rolling capacity in the US, as SteelOrbis previously reported.
Meanwhile, the company has set a target to increase its cold rolling capacity in business area Americas by 80,000 mt from the current approximately 600,000 mt through focused de-bottlenecking investments by the end of 2025.