Within the global market for high-strength steels, demand was seasonally higher compared with the previous quarter. The underlying demand in Europe showed some improvement. Markets in the Middle East were negatively affected by the war in the Persian Gulf.
The European market for standard steels remained cautious during the first quarter, but with a seasonal improvement compared with the previous quarter. Inventory levels at distributors are assessed to be somewhat high. Import volumes declined, and some production capacity among European steel producers was idled during the quarter, partly due to maintenance. Market prices for strip and heavy plate increased during the first quarter, driven by expectations of more restrictive import measures into the European market.
In the middle of April, a political agreement was reached between the European Parliament and Council on the measure to protect the EU steelmaking sector against global overcapacity. In the next step, the proposal is examined and approved in parallel by the Parliament and the Council with the aim to ensure its entry into force on July 1, 2026. In January 2026, the EU’s Carbon Border Adjustment Mechanism (CBAM) became fully operational with the goal of creating a more level playing field.
The North American plate market was relatively strong during the first quarter and prices increased. Inventory levels among North American distributors are assessed to be somewhat low.
Market prices in China for strip and heavy plate recorded some increase during the first quarter.
The costs of raw materials for SSAB Special Steels and SSAB Europe are expected to be somewhat higher compared to the first quarter of 2026, whereas for SSAB Americas, costs are expected to be fairly stable.
| Q2 2026 vs. Q1 2026 | ||
|---|---|---|
| Shipments | Realized prices | |
| SSAB Special Steel | Stable | Somewhat higher |
| SSAB Europe | Stable | Somewhat higher |
| SSAB Americas | Stable | Somewhat higher |
Definitions: Significantly lower (>10 %), Lower (5-10 %), Somewhat lower (0-5 %), Stable (~0 %), Somewhat higher (0-5 %), Higher (5-10 %), Significantly higher (>10 %)