Outokumpu restarts ferrochrome furnace earlier than anticipated
Outokumpu announced this week the restart of its third ferrochrome furnace to optimise production in the current electricity market.
The furnace was taken down in early September 2022 due to high electricity costs and was expected to remain temporary idled until the end of Q1 2023 at least. Now, the company expects to restart the furnace, nevertheless maintaining capacity at 50-60%, Kallanish understands.
“The restart of the third ferrochrome furnace gives us more possibilities for optimising the production in the current situation in the electricity market. As the furnace will be restarted, also the employees of that furnace will return to work at the ferrochrome operations. The majority of them have been working in Outokumpu’s stainless steel operations in Tornio,” says Martti Sassi, president, business area ferrochrome.
Electricity prices in Europe moved down significantly during the last month. The European TTF price shed some 50% of its value from the latest peak in early December 2022.
Emanuele Norsa Italy