SSAB’s operating result for the second quarter of 2024 amounted to SEK 2,969 (4,963) million. The decrease compared to a year earlier was primarily due to lower US heavy plate prices. The market in Europe continued to be relatively weak, whereas the market for high-strength steel was more resilient. Compared to the first quarter, the operating result was somewhat lower, whereas operating cash flow increased by more than SEK 1 billion.
SSAB has been selected for awards negotiations for up to 500 MUSD in funding from the U.S. Department of Energy for a potential construction of a HYBRIT[®] manufacturing facility, capable of producing fossil free iron by using green hydrogen instead of fossil fuels. The project will also explore the possibility to expand capacity and capability at SSAB’s steel manufacturing operations in Montpelier, Iowa, including increased use of renewable energy.
