Steel Mills
July 25, 2020
SSAB Americas Sees Demand and Profits Fall in Q2
Written by Sandy Williams
SSAB Americas’ third-quarter results were impacted by lower prices and volumes, which were somewhat offset by cost savings and lower raw material prices. SSAB Americas posted an operating loss of SEK 10 million ($1.13 million) versus a profit of SEK 106 million ($12 million) in the first quarter. Sales totaled $3.2 billion SEK ($361 million) down 17 percent from Q1 and 29 percent from Q2 2019. The division shipped 460,000 metric tons during the quarter, down 3 percent from Q2 and down 13 percent from a year ago.
SSAB reduced fixed costs at SSAB Americas by more than 100 million SEK. Planned maintenance at Montpelier was moved into June and July and was less extensive than planned. The impact from downtime will be reflected mostly in Q3 results.
