Steel Mills
Essar Steel Algoma Gets DIP Extension
Written by Sandy Williams
March 26, 2017
Essar Steel Algoma will get a third loan extension while it continues to hash out an agreement to emerge from CCAA protection. The company has another thirty day extension before its debtor-in-possession financing expires on April 30.
According to the Twenty-sixth Report of the Monitor filed on March 21, the extension comes at “a critical time when the Applicants continue to advance restructuring efforts and proceed with labour mediation.”
Algoma shipped approximately 194,000 net tons in February for revenue of CAD $157 million (US $117.3 million). Average selling price per ton rose to $739 from $700 in January and prices continue to improve in March.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.
Nippon Steel posts quarterly loss on cost to buy U.S. Steel
Nippon Steel earnings take hit from buy of U.S. Steel.
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.