The market for high-strength steel was impacted by a seasonally weak market during the third quarter. In addition, the turbulence triggered by tariffs and trade barriers continued to have a negative effect.
Demand for standard steel in Europe was cautious during the third quarter. Market prices for strip continued falling to a very low level during the beginning of the quarter before recovering somewhat. Heavy plate prices were stable at a relatively low level. Inventory levels at distributors were estimated to be normal. Some production capacity in Europe was temporarily idled during the quarter, partly due to maintenance. Import volumes continue to be significant and in many cases with very low selling prices. In early October, the European Commission proposed new measures to strengthen the resilience of the European steel industry. The proposal is meant to replace the existing safeguards and counteract the negative impacts of global excess capacity on the European steel industry.
In North America, distributors continued to be cautious following a build-up of inventories during the early part of the year. Heavy plate prices decreased somewhat during the quarter. Inventory levels at North American distributors are assessed to be relatively normal.
Market prices in China for strip and heavy plate increased somewhat during the third quarter.
The third quarter was characterized by a cautious market, partly due to seasonally weak demand. The outlook for the fourth quarter is uncertain, where the market in Europe is normally affected by a certain seasonal slowdown towards the end of the year. SSAB will carry out planned maintenance in both North America and Europe during the fourth quarter.
Compared with the third quarter of 2025, SSAB Special Steels’ shipments are assessed to be somewhat lower with stable prices.
SSAB Europe’s shipments are expected to be higher during the fourth quarter of 2025 compared to the third quarter of 2025. Prices are assessed to be lower.
For SSAB Americas, both shipments and prices are assessed to be somewhat lower.
The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be somewhat lower compared to the prior quarter, whereas for SSAB Americas, costs are expected to be stable.
| Q4 2025 vs. Q3 2025 | ||
|---|---|---|
| Shipments | Realized prices | |
| SSAB Special Steel | Somewhat lower | Stable |
| SSAB Europe | Higher | Lower |
| SSAB Americas | Somewhat lower | Somewhat lower |
Definitions: Significantly lower (>10 %), Lower (5-10 %), Somewhat lower (0-5 %), Stable (~0 %), Somewhat higher (0-5 %), Higher (5-10 %), Significantly higher (>10 %)