The strike could extend delivery times for EU stainless steel

According to Kallanish on March 20, 2024, the price of cold-rolled Stainless Steel Coils in Europe rose from the previous month. Sources told Kallanish that Italy is worth less than other EU countries due to continued market uncertainty and low downstream activity.

However, sheet prices are rising month-on-month across Europe and in Italy, where sheet stocks are said to be at low to medium levels. Outokumpu and Acerinox are currently idling their plants due to strikes. Steel mills are expected to postpone orders as fewer rolls will be available in the market. Longer lead times are seen as supporting steelmakers to raise prices for delivery in May.

The strike in Finland was against the Finnish government and had nothing to do with industrial relations at Otokumpu. Most of Otokumpu's stainless steel and ferrochrome operations, as well as the port of Tornio in Finland, will be closed for two weeks from March 11 to 25. The strike is also expected to indirectly affect Otokumpu's operations in other countries through internal material movements.

Acerinox employees, meanwhile, have been on indefinite strike since February 5 in opposition to the new collective agreement. The industrial action involved nearly 1,800 people.

It is reported that the strike continued during the negotiations. Since Cadiz workers announced an indefinite strike, the company has lost nearly 1,200 tons of production per day. Economic losses are estimated to have exceeded 3.5 million euros ($3.8 million) in the past four weeks.