Steel Mills
January 28, 2020
SSAB Reports Rough Quarter
Written by Sandy Williams
SSAB Americas posted a loss of $23 million (-222 million SEK) for the fourth quarter of 2019 due to lower realized steel prices and maintenance costs associated with a planned outage in Mobile, Ala.
Heavy plate demand was good in the first half of the year, but weakened in the fourth quarter due to inventory destocking as prices fell. Sales dropped 19 percent from the third quarter and 25 percent from a year ago. Lower demand was noted from heavy transportation and construction machinery.
