In the first quarter of 2024, SSAB, a Nordic and US-based steel company, reported an operating result of SEK 3,157 million, a decrease from the previous year attributed mainly to low-level US plate prices. Despite a weak European market, demand for high-strength steel remained stable. SSAB reaffirmed its commitment to fossil-free steelmaking by investing EUR 4.5 billion in its Luleå steel mill, which aims to cut Sweden's carbon emissions by 7%.

SSAB Special Steels maintained a strong operating margin of 23%, offering stability amidst market fluctuations. However, SSAB Americas saw a decline in operating results to SEK 1,412 million. SSAB Europe faced challenges, with political strikes in Finland impacting operations negatively.

Efficiency measures at Tibnor and Ruukki Construction are expected to yield positive results while safety performance improves. SSAB's decision to build a modern mini-mill in Luleå underscores its commitment to sustainable steel production, with estimated annual EBITDA improvement exceeding SEK 5 billion.