Outokumpu announced its turnover for the third quarter of 2013 with a loss of €239 million lower than the second-qaurter loss around €250 million. The company indicated the stainless steel demand will not be improved in the rest of this year. It also attempts to cut its output volume gradually, but will adjust up its base prices. The demand for stainless steel in the third quarter of 2013 kept down by 6.2% from the second quarter, declined in all main steel market, especially in Europe, Middle East and Africa with sharp slump around 19.1%, according to Outokumpu. The base price of stainless steel in Europe has curtailed by 6.8% in the third quarter and the average price of nickel also dropped nearly 7.1%.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67185&division=A1
