SSAB Group Q1 Results Exceed Expectations

Swedish steelmaker SSAB posted a strong start to 2022 with better-than-expected first-quarter results. The solid performance across all divisions was thanks to high steel prices, offsetting disruptions in Raahe, Finland, and Americas’ operations, the company said.

SSAB SSAB Americas’ revenue was $7.465 billion Swedish krona ($767 million USD) in the first quarter of 2022, more than doubling the same year-ago quarter. The improved performance was thanks to higher steel prices despite a slight decrease in shipments over the period, according to financial results posted Tuesday, April 26.

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SSAB

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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