SSAB forecasts strong Q2 steel demand in US, weaker demand in Europe

Swedish steelmaker SSAB has forecast that demand for heavy steel plate will remain strong in the United States in the second quarter of 2019, while in Europe “demand is expected to be somewhat weaker,” it said in its quarterly results on Thursday April 25.

The company, which has operations in Sweden, Finland and the US, expected steel prices to be “somewhat lower during the second quarter” for both SSAB Europe and SSAB Americas. SSAB Europe produces steel strip, plate and tube products, while SSAB Americas produces steel plate and coil. Prices for SSAB’s Special Steels division were expected to be stable during the second quarter of 2019 compared with the first quarter. The company’s special steel division produces quenched and tempered (Q+T) steels as well as advanced high-strength steels (AHSS) at its mill in Oxelösund, Sweden, with Europe and North America its key markets. “We see activity continuing at a good level, especially in Q+T steels and in heavy plate in the US, whereas somewhat weaker leading...

Published

Viral Shah

April 25, 2019

14:12 GMT

London