Outokumpu plans to temporarily stop ferrochrome production due to the weak market
Time:Fri, 05 Jan 2024 09:48:49 +0800
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Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, planned to temporarily close one of its three ferrochrome furnaces and one of its two sintering plants in Tornio, owing to weak ferrochrome market conditions.
The ferrochrome furnace and the sintering plant will be closed until autumn 2024. During the temporary shutdown, ferrochrome production will be maintained at around 80% of its full capacity.
Martti Sassi, the President of Outokumpu's Business Area Ferrochrome, said that under the current significantly slowing stainless steel market and increasing inventory of ferrochrome, the company made such a difficult but necessary measure to temporarily close a ferrochrome furnace and a sintering plant.
