Swedish steelmaker SSAB said on February 2 that an unscheduled outage of one of its blast furnaces in Raahe, Finland, and related repairs will cause a reduction in profit of SEK 600 million ($65 million) in the first quarter of 2022.
SSAB, whose shares were down 0.7 percent on the same day at 11:54 PM GMT, said it will make every effort to minimize the negative implications for its customers.
"Repair work is expected to last throughout February after which it is expected that the blast furnace may be restarted. The outage will result in lost production and shipments, as well as repair costs," the company said.
The Raahe plant includes a coking plant, two blast furnaces and a BOF furnace, with an annual capacity of 2.6 million mt of crude steel.