Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, reported that its stainless steel deliveries reached 450,000 tons in the fourth quarter of last year, down by 8.4% quarter on quarter and by 18.2% year on year.

During the period, realized prices for stainless steel kept at a lower level in Europe and hiked in Americas, but the prices had an overall drop in both markets.

In 2022, the company’s stainless steel deliveries totaled around 2.1 million tons, a year-on-year decrease of 6.6%. The realized prices for stainless steel during the period were at a higher level in Europe and Americas. However, the profitability in 2022 was negatively affected by sharp price increases for energy and various consumables.