SSAB, which operates production sites in Europe and the USA, has so far seen only a limited direct impact of the US steel tariffs, chief executive Johnny Sjöström said during a conference call this week.
He underlined how SSAB is well-positioned with significant local production in the US. Only a limited volume of special products, especially high-strength steels for the automotive industry, are exported from the Nordics and shipped to North America, and many other overseas locations.
Recently, “we have been selling some more volumes of special steels to the USA, but we don’t have to,” he said. If demand in the USA should go down, the group can divert deliveries to Europe easily, Kallanish heard him say during the call.
SSAB’s US operations at its SSAB Americas division were the main driver behind the group’s improved operating result of SEK 756 million ($86m) in the fourth quarter 2025, up from SEK 486m in Q4 2026. The group notes its strong position in the US heavy plate market was a notable factor that supported the result.
Over the full year, figures saw a year-on-year decline, due to lower steel prices in the group’s main regions. Operating profit fell by SEK 1.7 billion to SEK 6.1 billion, on revenue that dipped by SEK 7.2 billion to SEK 96 billion.
The group’s international setup and the global customer base for its special products are an advantage in principle. However, the nominal figures quoted in a strengthening Swedish krona are affected by a depreciated US dollar, in which most transactions are defined.
Shipments rose slightly at all three divisions, totalling 3.29 million tonnes at SSAB Europe, 1.84mt at SSAB Americas, and 1.24mt at SSAB Special Steels.
For the first quarter this year, the group predicts higher shipments for Europe and Special Steels, and slightly higher sales at Americas, which last year saw the highest volume increase. Prices are expected to climb “somewhat higher” than in Q4, except for Special Steels, which is subject to different market dynamics, and where price hikes will take effect with a delay (see Kallanish 29 January).
