SSAB reports higher production, shipments

Crude steel clocked in a 338,409 short tons (st), up from 306,442 st in 2024. Shipments were 503,756 st compared to 481,710 st a year ago.

Lower realized prices weighed on the first quarter, but market prices improved, the company said.

“Steel Service Center customers were more active and some inventory restocking was seen. Activity in the energy segment increased, especially in oil and gas,” the company added.

SSAB Americas, which is headquartered in Mobile, Ala., reported a lower operating result of SEK 160 million ($14.6 million) with an operating margin of 3%. That’s a drop from SEK 1.4 billion ($128 million) a year ago.

Across the company, the Swedish steelmaker reported operating results of SEK 1.3 billion, down from SEK 3.1 billion a year ago due to weak market conditions and the decrease compared to last year was mainly related to lower prices in North America.

While tariffs didn’t impact the company during the first quarter, “the turbulence driven by trade barriers and tariffs has created uncertainty and represents a significant risk of a lower economic activity.”

Outlook for Q2’25

SSAB is bracing for lower economic activity due to uncertain trade policies and tariffs.

“This means that the outlook for the steel divisions for the next quarter is more uncertain than usual,” the company said.

SSAB Special Steels’ shipments are forecast to be somewhat higher (0-5 %), whereas prices are expected to be stable. Both SSAB Europe’s shipments and prices are expected to be somewhat higher (0-5 %) during the second quarter of 2025 compared to the first quarter of 2025.

SSAB Americas’ shipments are assessed to be somewhat higher (0-5 %) and prices are expected to be significantly higher (>10 %). The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be stable compared to the prior quarter. For SSAB Americas, the costs are expected to be somewhat higher (0-5 %).