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SSAB tops quarterly profit expectations aided by higher European steel prices - Finance news and analysis from Global Banking & Finance Review
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SSAB tops quarterly profit expectations aided by higher European steel prices

Published by Global Banking & Finance Review

Posted on October 28, 2026

2 min read

· Last updated: October 28, 2026

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SSAB Surpasses Quarterly Expectations Thanks to High European Steel Prices

SSAB's Third-Quarter Financial Performance and Market Dynamics

Improved Steel Prices and Higher Shipments Drive Profit

Oct 28 (Reuters) - Swedish steelmaker SSAB reported a slightly bigger-than-expected rise in its third-quarter operating profit on Wednesday, citing improved steel prices and higher shipments.

European Steel Industry Context

The European steel industry has sought relief from high energy costs and cheaper Asian steel entering the region, and is expected to benefit from tighter EU steel import restrictions introduced in July and the bloc's carbon border levy on emissions-intensive imports.

CEO Insights on Market Balance and Pricing

• "We can see signs of improved supply-demand balance in the European market. Prices improved in Europe during the third quarter," CEO Johnny Sjostrom said

Quarterly Earnings and Analyst Expectations

• Operating earnings rose to 2.16 billion Swedish crowns ($217.2 million) in the quarter, while analysts were expecting 2.14 billion on average, a poll provided by SSAB showed

Shipment Growth Across Divisions

Premium and Special Steels Performance

• SSAB Europe increased shipments of premium steels; shipments also rose in the Special Steels unit and demand remained strong in the US plate market, Sjostrom said

Maintenance Costs and Operational Updates

• SSAB carried out planned maintenance during the quarter, with related costs rising to 810 million crowns from 390 million a year earlier

Additional Information

($1 = 9.9441 Swedish crowns)

(Reporting by Marta Frąckowiak in Gdańsk; Editing by Milla Nissi-Prussak)

Key Takeaways

  • SSAB delivered an operating profit of SEK 2.16 billion in Q3 2026, slightly above analysts’ SEK 2.14 billion consensus forecast (marketscreener.com).
  • Improved supply-demand balance and higher prices in the European steel market boosted earnings, while shipments rose in premium steels, Special Steels, and U.S. plate segments (ssab.com).
  • EU trade measures—such as steel safeguard quotas halved to 18.3 million t/year with 50% tariffs on excess, and the CBAM enforcing carbon costs—are bolstering domestic producers by curbing cheaper imports and raising cost of carbon‑intensive steel (consilium.europa.eu).

References

Frequently Asked Questions

What was SSAB's operating profit in the third quarter?
SSAB reported an operating profit of 2.16 billion Swedish crowns ($217.2 million) for the third quarter.
What factors contributed to SSAB's higher earnings?
Improved European steel prices, higher shipments, and tighter EU import restrictions contributed to the increase in earnings.
How did SSAB's actual profit compare to analyst expectations?
SSAB's operating profit exceeded analyst expectations, which averaged 2.14 billion Swedish crowns.
Which markets showed strong demand for SSAB's products?
Strong demand remained in the US plate market and for premium steels in Europe.
What impact did maintenance have on SSAB's quarterly costs?
Planned maintenance increased related costs to 810 million Swedish crowns, up from 390 million a year earlier.

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