Algoma speeds up EAF transition, shifts focus to supplying mostly plate to Canadian market

Upended by the Trump regime’s tornado of tariffs, Algoma Steel is pivoting its cross-border business model and shifting its focus to supplying the Canadian market. And with CA$500 million in fresh liquidity support from the Government of Canada, the steelmaker is accelerating its shift to electric-arc furnace (EAF) steelmaking.

On Monday, the Sault Ste. Marie, Ontario-based company announced it has finalized CA$400 million loan facilities from the Government of Canada’s Large Enterprise Tariff Loan fund and CA$100 million loan facilities from the Province of Ontario.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.