Canada
July 31, 2026
Algoma CEO lauds plate production and Canadian market focus
Written by Ethan Bernard
Algoma’s CEO touted the company’s plate production and its focus on the Canadian market.
This week, the Sault Ste. Marie, Ontario-based steelmaker reported a narrower net loss in the second quarter vs. a year earlier.
“We delivered a second consecutive quarter of record plate sales with plate shipments of 125,000 tons in the quarter, up from 116,000 tons in the first quarter,” CEO Rajat Marah said in an earnings call on Thursday.
“As Canada’s only producer of discrete plate, we hold a unique competitive position and demand from infrastructure, construction, and defense end market remained healthy throughout the quarter,” he added.
Marwah emphasized that US tariffs are still having an effect.
“The 50% US Section 232 tariff on steel imports from Canada continues to define the operating landscape,” he said. “We incurred (CAD)$18.7 million in direct tariff costs in the quarter, down from the prior quarter as we continue to reduce volumes shipped to the US.”
He called Algoma’s pivot to a Canada-centric plate first strategy the “right response” to current market conditions.
“While tariff remains a structural headwind, the rise in steel pricing is encouraging,” Marwah said.
EAF transition
Marwah noted Q2’26 was Algoma’s first full quarter with all liquid steel production sourced entirely from its EAF platform.
“We are bringing a new steelmaking platform at rated capacity while retiring more than a century of integrated operation,” Marwah said. “Our throughput is increasing daily as we work through the equipment learning curves and process stabilization that accompany our transformation of this magnitude.”
He said the company’s Unit 1 is operating on a full 24-hour schedule. And he added that “quality metrics have been achieved across a broad range of plate and hot-rolled coil grades.”
Additionally, Marwah said construction on the company’s second EAF unit is nearing completion. And commissioning and testing of critical equipment are underway.
“We expect first steel production from Unit 2 later this quarter,” he said
Marwah also pointed out Algoma has scheduled operational downtime in Q3 “in connection with operational time of Unit 2 alongside planned maintenance activities at the melt shop and our power generation plant.”
Once fully transitioned, Algoma’s facility will have an annual raw steel production capacity of approximately 3.7 million short tons. It’s projected to reduce the company’s annual carbon emission by approximately 70% from pre-EAF levels.
