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Steel company Outokumpu slumped to a loss of – expects the European steel market continued weak

Stainless steel manufacturer outokumpu's operating result fell to a loss in the third quarter.

the Adjusted operating result weighed on the eur 13 million loss, compared with a year earlier was eur 75 million plus.

president and Ceo Roeland Baan according to the company's profitability declined, inter alia due to weak demand and European exports for growth. In addition to the nickel price, the sharp rise caused Outokumpu hedging losses.

Outokumpu expects that the stainless steel market will remain weak in Europe.

the U.s. last year imposed steel tariffs are increased on steel imports to Europe. The EU has this year responded to the United states posed by customs in their security measures are.

– at the beginning of October came into force compared with the EU following the revised protection measures have not yet had a significant impact. Import quotas are fulfilled, the market should, however, be balanced, Baan said in the interim report (you move to another service).

– we also welcome the European commission's announcement, according to which the commission has initiated anti-dumping investigations into Chinese and Indonesian, and set the country.

the group's net sales fell over the past quarter, eight per cent from one year ago. Net sales generated about 1.6 billion euros.

Outokumpu to usher in the end of the year are July and September similar to the market situation to continue in the difficult.

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