SSAB Americas Feels Chill of Winter

SSAB Americas felt the effects of the winter freeze in the first quarter of 2014. Sales for the Americas segment were SEK 3,685 million ($559 million), down 2 percent from fourth quarter 2013 but 7 percent higher than Q1 2013. Higher prices and a favorable product mix were offset by lower volumes.

External steel shipments for the quarter totaled 604,000 tonnes (665,784 tons). High strength steel shipments fell 8 percent from fourth quarter to 145,000 tonnes (159,832) and were down 19 percent when compared to first quarter 2013. High strength steels accounted for 24 percent of SSAB Americas total shipments. Compared to fourth quarter 2013, crude steel production dropped 3 percent and steel production was 7 percent lower.