Steelmaker SSAB’s shares gained the most on the large cap OMXS30 index (2.8%) on Monday. SSAB is benefiting from a strengthening market for heavy plate in North America. On Friday, SSAB announced a price increase of USD 50 per tonne of new orders of heavy plate.
The US authorities also announced several measures intended to limit imports of steel. Proposed duties of 53% would apply to imports from 12 countries including China, Brazil, India and South Africa. SSAB’s CEO Martin Lindqvist commented, “Even if the US Commerce Department has presented a proposal applying to section 232, no decision has yet been made.”
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