The market for high-strength steel recovered somewhat during the first quarter, especially in North America.
Demand for standard steel in Europe during the quarter was still cautious but seasonally better compared to the previous quarter.
Market prices for strip in Europe improved somewhat from low levels. The price for heavy plate was relatively stable during the first quarter. A certain restocking occurred among distributors, but the inventory levels in the market are still estimated to be normal or somewhat low. Import volumes have decreased.
In North America, demand for heavy plate was somewhat better and market prices rose from low levels. The price was supported by tariffs announced on imported steel. Inventory levels at North American distributors were still low, despite some inventory restocking.
Market prices in China for strip and heavy plate were more or less stable during the first quarter, although strip prices began to weaken at the end of the quarter.
Order intake during the first quarter improved on many of SSAB’s markets. Nevertheless, there is an increased risk of lower economic activity following turbulence triggered by trade barriers and tariffs. This means that the outlook for the steel divisions for the next quarter is more uncertain than usual.
Compared with the first quarter of 2025, SSAB Special Steels’ shipments are assessed to be somewhat higher, whereas prices are assessed to be stable during the second quarter of 2025.
Both SSAB Europe’s shipments and prices are expected to be somewhat higher during the second quarter of 2025 compared to the first quarter of 2025.
SSAB Americas’ shipments are assessed to be somewhat higher and prices are expected to be significantly higher.
The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be stable compared to the prior quarter, whereas for SSAB Americas, the costs are expected to be somewhat higher.
| Q2 2025 vs. Q1 2025 | ||
|---|---|---|
| Shipments | Realized prices | |
| SSAB Special Steel | Somewhat higher | Stable |
| SSAB Europe | Somewhat higher | Somewhat higher |
| SSAB Americas | Somewhat higher | Significantly higher |
Definitions: Significantly lower (>10 %), Lower (5-10 %), Somewhat lower (0-5 %), Stable (~0 %), Somewhat higher (0-5 %), Higher (5-10 %), Significantly higher (>10 %)