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    Market Segment

    March 25, 2024

    Algoma's January outage to hit shipments, profits

    Written by Ethan Bernard

    Algoma Steel said in guidance on Monday that an unplanned outage at its blast furnace in January will “significantly” impact its fiscal fourth-quarter results.

    The Sault Ste. Marie, Ontario-based steelmaker expects adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) to be in the range of Canadian $30-40 million it its Q4’24 ended March 31. Steel shipments in the quarter are anticipated to be in the range of 445,000-460,000 short tons.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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