Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, forecasted that its group stainless steel deliveries will rise by 5 to 15% quarter on quarter in the first quarter of 2024.

For the first quarter of this year, the company's maintenance costs were expected to decrease by roughly EUR 20 million tons compared to the previous quarter. The adjusted EBITDA in the given period will remain stable at the same level as the preceding quarter.

The American market became weaker at the end of the fourth quarter, while the European market will see a slow recovery.

However, due to the weak ferrochrome market, Outokumpu suspended operation at one ferrochrome furnace and one sintering plant in January this year, and the current ferrochrome production is operating at 80% of its full capacity.