SSAB expects its European prices to rise by up to 5% in the fourth quarter after import curbs lifted its third quarter

Swedish steelmaker SSAB said on 28 October that its realised prices in Europe should be “somewhat higher” in the fourth quarter than in the third. By SSAB’s own definition, that means a rise of 0–5%. For buyers of Nordic strip and plate, the producer is pointing to firm but modest increases this quarter, not the jump that mills are asking for in 2027 contract talks (SSAB).

What SSAB reported

Group revenue rose to SEK 25,632 million (SEK 22,960 million a year earlier) and the operating result to SEK 2,157 million (SEK 1,869 million). That was in line with the Bloomberg analyst consensus of SEK 2,148 million, news agency Finwire reported. Planned maintenance cost SEK 810 million (SEK 390 million), and the result was SEK 538 million lower than in the second quarter.

SSAB Europe, the division that sells strip and plate to European customers, had an operating result of SEK 329 million, against a loss of SEK 179 million a year earlier. Shipments were 770,000 tonnes (737,000 t), down from 930,000 t in the second quarter. Higher prices added 4 percentage points to the division’s revenue year on year and 3 points against the second quarter (Q3 report).

SSAB wrote that import volumes have fallen since the EU trade measures took effect on 1 July, and that plate and strip prices in Europe rose in the quarter. These are the tariff quotas with a 50% out-of-quota duty under Regulation (EU) 2026/1384. Demand for standard steel stayed cautious, and SSAB called distributor inventories “relatively normal”.

For the fourth quarter, SSAB expects SSAB Europe shipments to be “higher” (5–10%), as maintenance ends, and raw material costs to be somewhat higher.

What it means for buyers

Analysis SSAB’s results add producer evidence to what the quota balances show: imports have been squeezed and European prices have firmed. Its guidance is more restrained than mills’ contract asks. Applied to the €760/t Northwest Europe hot-rolled coil assessment of 23 October (EUROMETAL), a 5% rise would be about €38/t. Mills are seeking €100–150/t more for 2027 contracts and the market expects €50–80/t (our report). SSAB’s realised prices average many products and contracts, so this shows scale only.

Analysis Higher SSAB Europe shipments after maintenance also mean more Nordic supply in the fourth quarter. SSAB’s view of normal distributor stocks differs from EUROMETAL’s report of large stocks still being run down.

What to watch

• 28 January 2027: SSAB’s year-end report (investor calendar) will show whether Europe prices rose as guided.
• Second quarter of 2027: planned production start of the electric arc furnaces at Oxelösund (see also our report on the Oxelösund quenching line).

Sources

Primary sources

• Report for Q3 2026 — SSAB, press release, 28 October 2026
• Report for Q3 2026 (full interim report, PDF) — SSAB, 28 October 2026
• Investor calendar — SSAB, read 28 October 2026
• Regulation (EU) 2026/1384 addressing the negative trade-related effects of global overcapacity on the Union steel market — Official Journal of the EU, 24 June 2026

Supporting sources

• SSAB:s rörelseresultat i linje med konsensus — Finwire via MarketScreener (in Swedish), 28 October 2026
• European coil and green steel round-up — EUROMETAL (McCloskey by OPIS), 26 October 2026

Related on Loharo

• EU steel quotas four weeks into Q4: 65 of 283 lines used up, and most duty-free hot-rolled room sits with eight origins
• EU mills seek €100–150/t more for 2027 coil contracts; buyers expect €50–80/t