Steel Mills
Algoma and Triple M Form Prime Scrap Sourcing JV
Written by Michael Cowden
November 2, 2021
Algoma Steel Group Inc. and Triple M Metal LP have formed a joint venture – ATM Metals Inc. – to source prime scrap and other iron units for the Canadian flat-rolled steelmaker.
The tie up between Triple M, one of North America’s largest private scrap recyclers, and Sault Ste. Marie, Ontario-based Algoma comes as the latter is considering switching to electric arc furnace (EAF) steelmaking.
Prime scrap and virgin iron units – such as pig iron, direct reduced iron (DRI), and hot-briquetted iron (HBI) – are needed to make flat-rolled steel products such as sheet and plate via the EAF route.
“We believe that we can build a powerful supply chain solution to realize the iron unit needs of the business today and in the future,” Algoma CEO Michael McQuade said in a statement.
“Algoma and Triple M have a long history of working together, so this joint venture was a natural fit for both organizations,” said Chris Galifi, chief operating officer of Giampaolo Group Inc., the parent company of Triple M.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
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