Europe: Outokumpu’s ferro chrome production rises in CY’21

Europe’s Outokumpu recorded ferro chrome production at 515,000 t in CY’21 – up by 3.4% y-o-y as against 498,000 t in CY’20. Sales amounted to EUR 604 million, up 47% y-o-y. Increased ferro chrome sales prices, driven by higher European benchmark prices and Chinese spot market prices, positively impacted the profitability, though a stronger EUR/USD exchange rate offset some of it. On the other hand, increased electricity and reluctant prices negatively impacted the profitability, the company said.