Steel Mills
October 24, 2019
SSAB Americas Profit Hurt by Lower Plate Prices
Written by Sandy Williams
SSAB Americas saw its third-quarter profits decrease to $54.5 million from $82.2 million in Q3 2018 due to lower plate steel prices. Sales were down 2 percent from the second quarter to $490 million and 6 percent from a year ago.
Demand during the quarter was relatively stable with shipments of 521,000 metric tons, up 10 percent from the second quarter and 1 percent from a year ago. Shipments to service centers increased in Q3, but customers were more cautious at the end of the quarter as heavy plate and scrap prices declined.
