Swedish specialty steel producer SSAB has posted its financial results for the first half of the current year, reporting a net profit of SEK 1.38 billion ($169.38 million), compared to a net profit of SEK 279 million in the corresponding period of 2016. The company's sales revenues amounted to SEK 32.85 billion ($4.01 billion) in the first six months, increasing by 19.7 percent year on year.
During the first half this year, SSAB's crude steel output was at the same level as for the first half of the previous year, while finished steel production increased by two percent year on year to 3.78 million mt. Its shipments in the given period remained unchanged at 3.49 million mt compared to the first half of 2016.
According to SSAB, in North America demand for heavy plate is anticipated to be relatively stable during the third quarter, with some seasonal slowdown, while in Europe demand is expected to be good during the third quarter, though with the normal seasonal slowdown. It is expected that the underlying demand for high-strength steel will continue to show positive development during the third quarter. Overall, the company’s shipments are expected to follow the normal seasonal pattern during the third quarter and to be somewhat lower than during the second quarter.