The market for high-strength steel was to some extent impacted by uncertainty resulting from the turbulence triggered by tariffs.
Demand for standard steel in Europe weakened during the quarter and market prices for strip and heavy plate in Europe fell to a relatively low level during the second quarter. After a certain restocking among distributors during the first quarter, sentiment was more cautious. Inventory levels were estimated to be normal. Import volumes continue to be significant, with very low selling prices in many cases.
In North America, demand for heavy plate was relatively stable although increased uncertainty resulting from tariffs among other things made distributors more cautious and heavy plate prices decreased somewhat. Inventory levels at North American distributors are assessed to still be low.
Market prices in China for strip and heavy plate decreased somewhat during the second quarter.
The second quarter saw customers adopting more of a wait-and-see mode on many of SSAB’s markets, due to the turbulence triggered by trade barriers and tariffs. In addition, the third quarter is typically seasonally weaker.
Compared with the second quarter of 2025, SSAB Special Steels’ shipments are assessed to be lower, whereas prices are assessed to be stable during the third quarter of 2025.
SSAB Europe’s shipments are expected to be significantly lower during the third quarter of 2025 compared to the second quarter of 2025. Prices are assessed to be stable.
SSAB Americas’ shipments are assessed to be somewhat lower and prices are expected to be higher.
The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be fairly stable compared to the prior quarter, whereas for SSAB Americas, the costs are expected to be somewhat lower.
| Q3 2025 vs. Q2 2025 | ||
|---|---|---|
| Shipments | Realized prices | |
| SSAB Special Steel | Lower | Stable |
| SSAB Europe | Significantly lower | Stable |
| SSAB Americas | Somewhat lower | Higher |
Definitions: Significantly lower (>10 %), Lower (5-10 %), Somewhat lower (0-5 %), Stable (~0 %), Somewhat higher (0-5 %), Higher (5-10 %), Significantly higher (>10 %)