SSAB Posts Strong Q3 in Americas, Sees Weakness in Europe

The strong performance of SSAB Americas was a bright spot in Swedish parent company SSAB’s third quarter earnings report as the company’s European segment was impacted by weaker demand and low shipments.

SSAB SSAB Americas posted Q3 operating profit of SEK 3,036 million (US$276.65 million) — a 61% improvement from the same quarter of 2021. The segment reported lower but still elevated pricing for steel plate, with realized prices 25% higher year-on-year. The segment’s Q3 shipments of 416,000 metric tons were down 13% sequentially and down 14% from the year-ago quarter due to the planned maintenance outage at its Iowa mill.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.