Swedish steel maker SSAB while releasing quarterly results announced that “The market outlook is uncertain due, among other things, to rising inflation, component shortages and bottlenecks in logistics chains as well as to the fallout from the war in Ukraine. The European market has weakened and SSAB Europe has adjusted production by lower volumes of construction-related products. To reduce capacity in the fourth quarter, maintenance of one of the blast furnaces in Raahe will be brought forward and start in mid-November. The maintenance work is expected to last for 6-8 weeks. The outlook for the markets of SSAB Special Steels and SSAB Americas is considered to be more stable.” SSAB also said “Customer demand for fossil-free steel continues to increase. During the third quarter, Volvo Trucks began the small-scale introduction of SSAB fossil-free steel in heavy electric trucks. SSAB started a partnership with Oshkosh Corporation, which will be the first in the US to develop prototypes for commercial vehicles in fossil-free steel.” SSAB added “Feasibility studies for SSAB’s planned mini-mills in Luleå and Raahe are ongoing. The goal is fossil-free steel production in around 2030, but the transition requires sufficient availability of fossil-free electricity in the right place at the right time. It is also key for there to be a level playing field across Europe regarding state aid for the transition.”
Swedish steel maker SSAB while releasing quarterly results announced that “The market outlook is uncertain due, among other things, to rising inflation, component shortages and bottlenecks in logistics chains as well as to the fallout from the war in Ukraine. The European market has weakened and SSAB Europe has adjusted production by lower volumes of construction-related products. To reduce capacity in the fourth quarter, maintenance of one of the blast furnaces in Raahe will be brought forward and start in mid-November. The maintenance work is expected to last for 6-8 weeks. The outlook for the markets of SSAB Special Steels and SSAB Americas is considered to be more stable.” SSAB also said “Customer demand for fossil-free steel continues to increase. During the third quarter, Volvo Trucks began the small-scale introduction of SSAB fossil-free steel in heavy electric trucks. SSAB started a partnership with Oshkosh Corporation, which will be the first in the US to develop prototypes for commercial vehicles in fossil-free steel.” SSAB added “Feasibility studies for SSAB’s planned mini-mills in Luleå and Raahe are ongoing. The goal is fossil-free steel production in around 2030, but the transition requires sufficient availability of fossil-free electricity in the right place at the right time. It is also key for there to be a level playing field across Europe regarding state aid for the transition.”
