Outokumpu increased stainless steel shipments by 27% q/q

Finnish stainless steel producer Outokumpu increased its product shipments by 27% in January–March 2026 compared to the previous quarter, reaching 465,000 metric tons. At the same time, shipments decreased by 1% year-on-year. This is stated in the company’s quarterly report.

The company notes that the improvement in market activity was linked to seasonal factors and the impact of the CBAM mechanism in the European Union. Following the launch of CBAM in January 2026, stainless steel imports into the EU began to lose competitiveness due to the introduction of a carbon component in the cost of shipments. This supported demand for European products with a lower carbon footprint.

In the European segment, stainless steel shipments reached 324,000 tons, up 46% quarter-on-quarter and 2% year-on-year. Growth was also supported by the partial resolution of issues with the new ERP system and logistics planning in Tornio, Finland.

In North America, shipments rose 3% quarter-on-quarter – to 148,000 tons, but were 5% lower than a year earlier. The company notes a recovery in demand from data centers, the pipe industry, and certain industrial segments in the U.S.

Amid rising shipments and improving market conditions, Outokumpu’s adjusted EBITDA increased to €65 million, compared to €10 million in the previous quarter and €49 million a year earlier. The company’s revenue reached €1.45 billion (-4.8% y/y; +25% m/m).

The company expects further improvement in results in the second quarter. Outokumpu forecasts a further 0-10% increase in stainless steel shipments compared to the first quarter of 2026.

As reported by GMK Center, global stainless steel production grew by 2.1% y/y in 2025, reaching 64.2 million tons. Last year, Asia increased stainless steel production by 2.7% – to 55.3 million tons. China produced 40.87 million tons (63.7%), up 3.6% year-on-year. The European Union reduced production by 1.9% year-on-year – to 5.7 million tons.