Outokumpu expects break-even

Stainless steel maker Outokumpu said it expected to break-even in the first quarter after posting a deeper-than-expected fourth quarter loss. The company expects delivery volumes in the first quarter to be around 10 to 20 per cent higher than in the fourth quarter of 2010. The Finnish firm reported an operating loss of €85m (£72.4m) for the fourth quarter, versus a €31m loss a year ago.