SSAB expects European shipments to increase in Q4

SEATTLE (Scrap Monster): Swedish steel company SSAB stated that it is seeing signs of improved supply and demand balance in the European market, primarily due to new EU trade measures that took effect on July 1. These new regulations drastically reduced duty-free import quotas for steel products by 47%, limiting the total duty-free volume to 18.3 million tons, with an additional 50% tariff on any excess.

SSAB expects its European shipments to increase by 5% to 10% quarter-on-quarter in the fourth quarter, while shipments to the Americas are expected to remain relatively stable. However, shipments of SSAB specialty steel are projected to decline by up to 5%, with raw material costs expected to rise and other variable costs, including freight and energy, expected to remain high.

SSAB lowered its 2026 maintenance and strategic capital expenditure forecast from SEK 13.5 billion to SEK 11.2 billion due to supplier payment schedule adjustments.

Courtesy: www.yieh.com