SSAB Steel Mill Delay Will Probably Hit Deliveries -- Market Talk

Dow Jones

2025/06/23

1132 GMT - SSAB has delayed the commissioning of its new Lulea steel mill by 12 months to the end of 2029, which will probably impact Citi's assumptions for green steel deliveries in outer years. The company has cited the delay in transmission grid connection, which is necessary in order to supply the mill with renewable power, as the key reason for the delay. However, Citi now sees a better spread of capital expenditure because of the delay, with 2027-2028 as the peak capex years. That would result in breakeven free cash flow for 2026, versus consensus that is looking for 6 billion Swedish kronor of negative free cash flow in 2026. Shares rise 2.4% to 56.70 kronor. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

June 23, 2025 07:32 ET (11:32 GMT)

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