Steel Mills

Algoma resumes steel shipments to US, sees opportunity in tariffs
Written by Ethan Bernard
March 14, 2025
Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.
A spokesperson for the Sault Ste. Marie, Ontario-based steelmaker confirmed the shipment news on Friday morning. As previously reported, Algoma had paused shipments to the US earlier in the week.
The resumption of shipments follows a meeting held between Canadian and US officials in Washington, D.C., on Thursday.
The spokesperson provided no further information on the substance of that meeting.
In its earnings results on Wednesday, Algoma said that US tariffs would hurt its “financial position,” though no estimate was given by how much.
Opportunity with tariffs?
On an earnings call on Thursday, Algoma CEO Michael Garcia noted that “tariff uncertainty” led to lower realized prices during the fourth quarter. He also said “soft demand and the tariff trade war tensions” have influenced customers’ buying behavior.
“While we expect these tariffs to pose a significant challenge, we expect that our transition to EAF steelmaking will strengthen our cost structure and enhance our ability to navigate market uncertainties over the long term,” Garcia said.
The CEO said, however, that the Canadian government’s retaliatory tariffs could provide an opportunity, especially as Algoma is Canada’s only discrete plate producer.
Garcia pointed out that the Canadian market has shown different dynamics than the US market in the last couple of months.
“I would say it’s oversupplied with (hot-rolled) coil right now, and undersupplied with plate,” Garcia said, adding: “So the announcement by Canada … putting a tariff on US steel will help.”
“There’s about 3.5 million tons of US steel in the Canadian market over the last 12 months,” he continued. “So that’s an opportunity for coil, but more so for plate to start moving up in price in the Canadian market.”

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

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.

Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”