Within the global market for high-strength steels, demand was relatively stable during the second quarter. Markets in the Middle East were negatively affected by the war in the Persian Gulf.
The European market for standard steels remained cautious during the second quarter. Import volumes increased compared to the previous quarter in anticipation of the new trade measures coming into effect. Inventory levels at distributors are assessed to be somewhat high. Following the upturn in market prices for strip and heavy plate during the first quarter, the strip prices decreased somewhat in the second quarter.
The measures to protect the EU steelmaking sector against global overcapacity entered into force on July 1, 2026. In January 2026, the EU’s Carbon Border Adjustment Mechanism (CBAM) became fully operational with the goal of creating a more level playing field.
The North American plate market was relatively strong during the second quarter and prices increased. Inventory levels among North American distributors are assessed to be somewhat low.
Market prices in China for heavy plate increased during the second quarter, whereas strip prices recorded a smaller increase.
The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be somewhat higher compared to the second quarter of 2026, whereas for SSAB Americas, costs are expected to be stable.
| Q3 2026 vs. Q2 2026 | ||
|---|---|---|
| Shipments | Realized prices | |
| SSAB Special Steel | Significantly lower | Somewhat higher |
| SSAB Europe | Significantly lower | Somewhat higher |
| SSAB Americas | Lower | Somewhat higher |
Definitions: Significantly lower (>10 %), Lower (5-10 %), Somewhat lower (0-5 %), Stable (~0 %), Somewhat higher (0-5 %), Higher (5-10 %), Significantly higher (>10 %)