Outokumpu Sees Stronger than Expected Demand Recovery
Outokumpu is registering a stronger-than-expected market recovery, the Finnish firm says in a note sent to Kallanish.
The company now expects deliveries to increase 5-10% on-quarter in the fourth quarter. This would mean quarterly deliveries are set to return to the level of 500,000 tonnes for the first time since Q1 2020.
Together with rising deliveries, Q4 Ebitda should also be higher than in Q3, improving the outlook to stable.
The group’s deliveries in January-September reached 1.6 million tonnes, down 139,000t or -8% on-year. In Q3 alone deliveries fell -9% on-year. In Q4, nevertheless, deliveries could be up more than 10% y-o-y if the latest outlook by the group is confirmed.
Source – https://eurometal.net