SSAB Americas Shines for SSAB in Q1

SSAB Americas reported sales of SEK 2,428 million ($297.5 million) for first quarter 2016 up from 2,321 in Q4. Shipments increased 9 percent from Q4 to 475,000 tonnes. Operating profit, or EBIT, was SEK 55 million ($6.7 million) compared to a loss of SEK 100 mill in in Q4 and profit of SEK 296 million a year ago.

The Americas segment saw lower average plate prices in first quarter but prices are currently improving. Import of plate continued at high levels during first quarter. A new trade case on plate imports was announced April 8 which is expected to benefit demand and pricing.