SSAB Expects More Pronounced Decrease In Demand Than Normal In Q3
July 24 (Reuters) -SSAB AB SSABa.ST:
DECREASE COMPARED TO A YEAR EARLIER WAS PRIMARILY DUE TO LOWER US HEAVY PLATE PRICES
MARKET IN EUROPE CONTINUED TO BE RELATIVELY WEAK, WHEREAS MARKET FOR HIGH-STRENGTH STEEL WAS MORE RESILIENT
MARKET WAS WEAK AND POLITICAL STRIKES IN FINLAND HAD A NEGATIVE EFFECT OF AROUND SEK 125 MLN
SHIPMENTS TO CAR INDUSTRY REACHED A RECORD LEVEL, SUPPORTED BY SSAB'S ADVANCED PRODUCTS AS WELL AS OUR LEADING POSITION IN EMISSION-FREE STEELS
MARKET IN EUROPE WAS RELATIVELY WEAK DURING Q2 AND US HEAVY PLATE MARKET WEAKENED
DEMAND IS SEASONALLY LOWER IN Q3, ESPECIALLY IN EUROPE, AND ASSESSMENT IS FOR A MORE PRONOUNCED DECREASE THAN NORMAL
MARKET IS CHALLENGING FOR TIBNOR AND RUUKKI CONSTRUCTION BUT MEASURES TO REDUCE COSTS HAD A POSITIVE EFFECT IN Q2
COMPARED WITH Q2, SSAB SPECIAL STEELS’ SHIPMENTS ARE ASSESSED TO BE LOWER DURING Q3, WHEREAS PRICES ARE EXPECTED TO BE SOMEWHAT LOWER
SSAB EUROPE’S SHIPMENTS ARE ASSESSED TO BE LOWER AND ALSO PRICES ARE EXPECTED TO BE LOWER DURING THE Q3 OF 2024 COMPARED TO Q2
IN Q3 SSAB AMERICAS’ SHIPMENTS ARE ASSESSED TO BE SIGNIFICANTLY LOWER AND PRICES ARE EXPECTED TO BE LOWER
IN Q3 THE COSTS OF RAW MATERIALS ARE EXPECTED TO BE SOMEWHAT LOWER COMPARED TO THE PRIOR QUARTER
Source text for Eikon: ID:nWkr7Xbk4P
Further company coverage: [SSABa.ST]
(Gdansk Newsroom)
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