Outokumpu To Temporarily Restrict Its Ferrochrome Production
Due to weak ferrochrome market conditions, stainless steel producer Outokumpu plans to temporarily close one of its three ferrochrome furnaces and one of the two sintering plants in Tornio, Finland. The plan is to keep the ferrochrome furnace and one sintering plant closed until autumn 2024. Ferrochrome production will continue at about 80% of its full capacity during the temporary closure.
“The stainless steel market has slowed down significantly, which has had a negative impact on our ferrochrome deliveries, and our ferrochrome inventories have increased. The (likely) temporary closure of one ferrochrome furnace and one sintering plant would be a difficult but necessary measure in this market situation. In the change negotiations, we will try to find a solution in which we will be able to employ our ferrochrome works personnel in the other operations of the Tornio site and Kemi mine. However, we cannot rule out the possibility of temporary layoffs,” said Martti Sassi, President, Business Area Ferrochrome.
Ferrochrome is an alloy between chromium and iron and is an essential raw material in the production of stainless steel.
For further information, visit the Outokumpu website: www.outokumpu.com