Outokumpu Expects Sideways Stainless Market, Promotes the Necessity for Protectionism

Speaking at the Chicago chapter of the Association of Women in the Metals Industry’s (AWMI) most recent dinner, Outokumpu Business Area Americas CEO and President Tamara Weinert highlighted the many challenges facing domestic stainless producers. She also commented on the global stainless steel price, the company’s overall outlook, and its path toward a greener future.

Don’t settle for stagnant savings. MetalMiner’s custom price forecasting unlocks the true potential of your stainless volume commitments, ensuring you maximize profit. View our full metal catalog.

Outokumpu Anticipates Sideways Stainless Steel Prices

Domestic stainless steel prices have largely trended sideways since the start of the year. Base prices remain unchanged from 2022, leaving only the surcharge to fluctuate. Still, the recent sharp drop in nickel prices has meant increasingly cheaper surcharges. Meanwhile, over-purchasing following a long period of allocations led to a buying hiatus for many manufacturers, offering no room for producers to raise base prices.

Despite these price trends, Weinert spoke optimistically of a U.S. economy that has proven more resilient than expected, thus helping to stabilize the current market. She mentioned that Europe continues to fare worse following the combined headwinds of post-pandemic recovery and the Russian war in Ukraine. Here in the U.S., Weinert expects the sideways stainless steel price trend from 2023 to persist, adding that the medium and longer-term outlooks appear more positive, although risk factors remain.

Post time: Jun-14-2024