SSAB is at a pivotal moment as it navigates the dual challenges of a cyclical steel market and a major transformation toward fossil‐free production. The company is aggressively investing in its new electric arc furnace (EAF) projects—most notably a “mini-mill” in Luleå and conversion plans in Oxelösund—to shift its product mix toward higher-margin, premium steels such as advanced high‐strength and “green” steel. These initiatives aim to deliver cost advantages through reduced CO₂ compliance costs while positioning SSAB as a leader in sustainable steelmaking.
Adding to this strategic play, the reinstated 25% U.S. steel tariff—effective March 2025—could bolster SSAB’s U.S.-based operations by providing pricing support against cheaper imports. However, this policy may also create headwinds for European exports and trigger retaliatory measures, increasing the overall trade uncertainty.
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