Outokumpu to produce ferritic stainless steel in Tornio

Outokumpu to produce ferritic stainless steel in Tornio

Finland-based steelmaker Outokumpu today announced plans to produce ferritic grade stainless steel at its unit in Tornio, Finland. The company plans an investment of €13 million for the project, which will cover batch annealing furnaces in Tornio for heat treatment of coils after hot rolling. The delivery capacity of ferritic stainless steel will be 60'000 metric tons per annum. Initial deliveries are scheduled to be made in the first quarter of 2007. The production of ferritic grade stainless steel will enable Outokumpu to better serve its customers that use both austenitic and ferritic grades. The ferritic grades are produced from ferrochrome and carbon steel scrap. While austenitic grades produced by Outokumpu include nickel, ferritic grades will not contain nickel.