OSTP News

EXPORT COMPANY OF THE YEAR

On the 12th of May, OSTP in Örnsköldsvik was recognized as Export Company of Year at the annual Företagarkvällen event in Örnsköldsvik, Sweden. This was the 14th year for the event, and the award was presented by the Mid Sweden Chamber of Commerce in association with Industrigruppen.

Anna Edblad, Industrigruppen; Reinert Svensson, MD OSTP Örnsköldsvik and Anders Eriksson, Mid Sweden Chamber of Commerce.

The nomination said of OSTP:

“For more than 100 years, the company has manufactured and distributed tubes and butt weld fittings to demanding customers in Europe. Exports represent 90% of its sales, which are primarily directed to process and chemical industries. With unique competence among its employees, OSTP strives to deliver with the highest precision and quality, every day. No pipe or fitting seems impossible for OSTP to manufacture.”

Reinert Svensson, MD at the Örnsköldsvik site, says:

“I’m really proud of this recognition and award. It is a recognition of our company and our products, but most of all it is an award for all the great work performed by our skilled and committed colleagues. It is an award for our entire team.”

Thomas Hellman, Product Manager Butt Weld Fittings, comments:

“Over a long period, we have established OSTP as market leader for butt weld fittings in Europe. The ability to develop unique production processes and adapt to market requirements has put OSTP in front, generating stable growth and profitability.”

Commercial update 29.3.2022

Market update for OSTP Group Customers:

LME has now traded for three consecutive days (25th, 28th & 29th ) within Daily Trading Limits (+/-15%).

This has enable the LME to publish Official Cash Closing Rates for these days. Naturally we cannot be assured that further disruption days will not occur but seemingly and hopefully some stability is returning.

OSTP as advised earlier was able to published its applicable AAF rates for April-22 delivered materials (Process Pipes and BWF’s) as expected by the normal due date (25th March).

We encourage and welcome all our customers to engage in dialogue with us through your normal contact routes so we can together plan your material needs for April to June so we can best adjust our planned production programs to ensure we maximise on time supplies and prepare mill stocks for the Summer Shut down period.

At current Nickel rates and the 20% increase to Q2 FeCr rates it should be naturally expected
that AAF rates will increase still further in May at least if current conditions continue.

We remain committed to maintain regular news updates on our website for your information and guidance.
All information is given in our announcements are done so in good faith and without any liability or responsibility based on the best information available to us at the time of announcement.

For more information:
David Garrett
Head of Group Sales & Marketing
david.garrett@ostp.biz
Mobile: +46 (0) 76 818 26 29

Commercial update 24.3.2022

Market update for OSTP Group Customers:

LME has now traded for three consecutive days (25th, 28th & 29th ) within Daily Trading Limits (+/-15%).

This has enable the LME to publish Official Cash Closing Rates for these days. Naturally we cannot be assured that further disruption days will not occur but seemingly and hopefully some stability is returning.

OSTP as advised earlier was able to published its applicable AAF rates for April-22 delivered materials (Process Pipes and BWF’s) as expected by the normal due date (25th March).

We encourage and welcome all our customers to engage in dialogue with us through your normal contact routes so we can together plan your material needs for April to June so we can best adjust our planned production programs to ensure we maximise on time supplies and prepare mill stocks for the Summer Shut down period.

At current Nickel rates and the 20% increase to Q2 FeCr rates it should be naturally expected that AAF rates will increase still further in May at least if current conditions continue.

We remain committed to maintain regular news updates on our website for your information and guidance.

All information is given in our announcements are done so in good faith and without any liability or responsibility based on the best information available to us at the time of announcement.

For more information:
David Garrett Head of Group Sales & Marketing david.garrett@ostp.biz Mobile: +46 (0) 76 818 26 29

Commercial update 18.3.2022

Market update for OSTP Group Customers:

Due to breach of the daily price limits set for trading on Friday 18th March the following LME Notices were released.

LME Notice: 22/079.

Nickel Contracts traded in the Ring traded down to the pre-set daily price limit in the second Ring session (R2). As a result, the Nickel Official Prices are, for the purposes of the LME’s pricing procedures, subject to a Disruption Event.

And

LME Notice: 22/080.

Updates the daily upper and lower price limits in either direction (“daily price limits”) for outright Contracts in Nickel on all Execution Venues (which have increased from 12% to 15%) with effect from 21 March 2022.

Therefore at this point in time OSTP Group continues with its policy announced earlier ie:

OSTP therefore will continue to offer only on a daily basis with all offers valid for 1 day. We regret that this is necessary but these unprecedented conditions leave us with no alternative currently.

It is our strong belief that within a matter of a few days a confirmed stabilised LME trading rate will be established for Nickel which is necessary for the calculation and establishment of the OSTP April Monthly AAF rates and updated base prices. We confirm once again that OSTP’s best advice to our customers is not to panic but to engage in dialogue with us through your normal contact routes so we can together navigate these times with least negative impact to all parties and maintain as best as possible needed material supplies.

It should be naturally expected that material prices base and AAF rates will increase significantly in the coming months and current offers made by OSTP Group reflect the best known information available.

We remain committed to maintain regular news updates on our website for your information and guidance

For more information:
David Garrett Head of Group Sales & Marketing david.garrett@ostp.biz Mobile: +46 (0) 76 818 26 29