Outokumpu logo is seen at the company’s head office in Helsinki, Finland May 22, 2018. REUTERS/Jussi Rosendahl
Register now for FREE unlimited access to Reuters.com
HELSINKI, Sept 6 (Reuters) – Finnish stainless steel maker Outokumpu (OUT1V.HE) on Tuesday said it would delay the restart of one of its ferrochrome furnaces after maintenance due to “exceptionally” high electricity prices.
“Energy prices have increased significantly, which has had a negative impact on our cost competitiveness compared to our non-European competitors,” said Outokumpu’s head of ferrochrome, Martti Sassi, in a statement.
Its ferrochrome production will continue at about 70% of full capacity but this will not impact stainless steel deliveries or its financial outlook for the July-September period, the company added.
Register now for FREE unlimited access to Reuters.com
Reporting by Essi Lehto, editing by Stine Jacobsen
Our Standards: The Thomson Reuters Trust Principles.
