SSAB reported higher second-quarter earnings driven by increased prices and shipments, though elevated logistics and energy costs stemming from the Middle East conflict weighed on results. The Swedish steelmaker noted that high-strength steel markets in the Middle East were hurt by the hostilities, while overall global markets showed relatively stable demand.

The European market for standard steels remained cautious and import volumes increased ahead of new trade measures. Measures to protect the European Union steelmaking sector against global overcapacity entered into force on July 1.

SSAB's production and shipments were somewhat higher on year, but it expects to see a seasonal slowdown in demand during the third quarter, and it will carry out planned maintenance across all steel divisions.