SSAB warns of slower than usual Q3, shares slump
** Shares in SSAB SSABa.ST fall 5.4% after the Swedish steelmaker posted second-quarter operating profit below market estimates and warned of a steeper demand decline in Q3
** "The seasonal downturn during the third quarter is assessed to be more pronounced than normal," the company says
** SSAB, which experiencedlower U.S. heavy plate prices and still weak European market in Q2, says itexpects shipments and realized prices to fallin all divisions quarter-on-quarter in Q3
** "SSAB's demand outlook for Q3 is weaker vs normal Q3 seasonal slowdown and consequently maintenance is starting earlier than previously planned in SSAB Americas," J.P.Morgan says
** SSAB's Q2 operating result plunges to 2.97 billion Swedish crowns ($275.34 million) in Q2, from 4.96 billion a year earlier, missing the average forecast of 3.02 billion crowns seen in an LSEG poll
** SSAB is among bottom performers of the pan-European STOXX 600 .STOXX index
($1 = 10.7868 Swedish crowns)
Reporting by Elviira Luoma
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