16
2023
-
02
[Overseas Chromium Enterprise Report] Outokumpu: YoY 17% decrease in ferrochrome production in fiscal year 2022
Recently, the official website of Finnish stainless steel manufacturer Outokumpu released its report for the fiscal year 2022. Outokumpu's core business is the production of stainless steel rough steel and ferrochrome. Its report shows that ferrochrome production decreased in the fourth quarter of 2022 and throughout the fiscal year compared to the same period in 2021. The production of ferrochrome in the fourth quarter of 2022 reached 69000 tons (125000 tons in the fourth quarter of 2021), a year-on-year decrease of 45% and a month on month decrease of 34% compared to the third quarter of 2022. The annual production of ferrochrome in 2022 was 430000 tons (515000 tons in 2021), a year-on-year decrease of 17%.
The report points out that the main reason for the decline in ferrochrome production is that abnormally high electricity prices have caused factories to shut down and optimize ferrochrome production capacity. At the same time, the company's surplus in the ferrochrome market in the fourth quarter continued to decline with the decrease in production.
It is reported that Outokumpu has invested a total of 40 million euros in capital expenditure in 2023 and 2024 to promote multiple projects to improve energy efficiency, and has completed approximately 7% of them in the fourth quarter of 2022. In terms of ferrochrome production projects, the enterprise will restart one of the three ferrochrome furnaces on February 15, 2023 because the maintenance interruption time formulated in October is earlier than the original plan. However, because another ferrochrome furnace has recently failed and will be repaired in the second quarter of 2023, and combined with the continuous rise in electricity prices caused by the European energy crisis, it is estimated that the ferrochrome output in the first quarter of 2023 will still maintain 50-60% of the full capacity.
Related News
Committed to chemical energy infrastructure solutions!
WeChat official account
Sales Hotline：0513-82683598
Address: Yanjiang Industrial Park, Haimen District, Nantong City
E-mail：sales@csiejs.com
Shanghai Office Hotline：021-56413576
Copyright: © China Securities Industrial Equipment Jiangsu Co., Ltd 【Global Mail Login Portal】
