Outokumpu withdraws US expansion plan and nuclear project in Finland on weak stainless steel market conditions

Outokumpu has decided to withdraw its plans to expand stainless steel production capacity in the U.S. and to cancel its nuclear project in Finland due to weak market conditions and high import pressures. The company cited the unpredictable market environment as the main reason for halting its planned expansion in the U.S1. Meanwhile, Outokumpu is seeking external partners for a small modular reactor project at its Tornio plant in Finland.