Danieli up after securing 1-billion euro contract for SSAB mini-mill in Sweden

SSAB AB

02/05/2025 11:07

** Italian steelmaker Danieli's DANI.MI shares rise after winning 1-billion euro ($1.13 billion) contract for full supply of Swedish steelmaker SSAB SSABa.ST fossil-free steel mini-mill project in Luleå, Sweden

** Shares of Danieli rise as much as 6.8%, reaching their highest level since March 26, before paring gains to be up 6.4% at 0933 GMT

** "The investment is a significant step in SSAB’s strategy to establish a leading position in emission-free special and premium steels," Danieli said in statement released on Thursday

** Danieli said new mill, with capacity of 2.5 million tonnes per year, is planned to start up by end of 2028, with full operating capacity expected in 2029

($1 = 0.8828 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))