International Steel Prices
March 10, 2022
SSAB Exec: Ripple Effects from War in Ukraine to Last for Years
Written by Tim Triplett
The global steel industry will see ripple effects from the war in Ukraine for years to come. Its direct and indirect effects will cut European steel capacity by 30-40% in the near term as the conflict disrupts the flow of natural gas and steelmaking raw materials – most notably steel slabs from Russia, said Johnny Sjöström, president and CEO of SSAB Special Steels, in comments during Steel Market Update’s Community Chat on Wednesday.
SSAB has operations all around the world with annual steel production of 8.8 million metric tons and $10 billion in revenue. In the United States, SSAB operates two production facilities, one in Montpelier, Iowa, and another in Mobile, Ala., where they specialize in production of heavy plate. The company reported $2 billion in U.S. sales in 2021.
