The European steel producer Outokumpu’s performance in the second quarter was relatively satisfactory, and the profitability improved from the first quarter. However, the company still has concerns about problems in the European business area.
The chief executive officer (CEO) said that to generate profits in a difficult operating environment, they must step up efforts to improve their cost competitiveness in Europe, particularly in commodity stainless steel production. The company aims to achieve further cost savings and optimize commodity stainless steel production in Finland and Germany.
The CEO pointed out that the factory in Tornio, Finland, has Europe’s most cost-effective and highest output. They intend to leverage Nordic clean energy and competitive energy prices.
