April 23, 2008 / 8:58 AM / in 9 years

SSAB sees small margin effect from steel price rises

STOCKHOLM, April 23 (Reuters) - Swedish specialty steelmaker SSAB (SSABa.ST) said it would not see much effect on margins from planned steel price rises this year.

Speaking at a briefing for analysts after the company’s first-quarter result, Chief Executive Olof Faxander said the firm aimed to hike prices to offset the rising cost of raw materials.

“We don’t expect significant margin increases as the result of what is happening now,” he said.

He also said the cost of scrap metal, the main raw material for the firm’s IPSCO division in North America, had continued to rise in the second quarter after a 20 percent gain in the first three months of the year.

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