Algoma CEO lauds plate production and Canadian market focus
Algoma’s CEO touted the company’s plate production and its focus on the Canadian market.
Tag: Algoma
Algoma narrows losses in Q2, highlights EAF transition
Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.
Hanwha Ocean considers withdrawing its Canadian investments
Hanwha Ocean has not definitively pulled its plans in Canada.
Algoma in talks with TKMS following submarine deal
Algoma Steel is in talks with ThyssenKrupp Marine Systems (TKMS) following the Canadian government's selection of the German company as the preferred supplier of submarines.
Canada taps TKMS for submarines, passes on Algoma-linked deal
The Canadian government has selected a German firm to build submarines, passing on a contract from a South Korean company linked with Algoma Steel.
Algoma guides to lower Q2 shipments, but adjusted EBITDA to show profit
Algoma Steel Group expects lower shipments in its second quarter of 2026 but anticipates adjusted EBITDA to move back into the black.
Canada’s steel output falls 15% in May as US tariffs reshape trade flows
Canada’s steel production dropped sharply in May, falling 15% year over year and running 14% lower year-to-date, according to Earth-i’s Savant Global Monitoring Index. May’s production was just under 900,000 metric tons.
Algoma seeks higher tags on coil, plate products
Algoma Steel announced on Thursday a price increase for coil and plate products, effective immediately.
Algoma CEO forges new path against tariff headwinds
Algoma CEO forges new path against tariff headwinds
Algoma earnings tumble in Q1, tariff woes continue
Algoma Steel's loss widened in the first quarter as tariffs and the EAF transition impacted its bottom line.
USW Canada presses Parliament for stronger steel protections
Dozens of Canadian United Steelworkers (USW) labor union members lobbied federal politicians on Thursday, April 23 in Ottawa.
Plate market fears tightening supplies, escalating freight costs
Plate market participants we spoke to this week offered a long list of concerns: escalating fuel and freight expenses, consolidated sources of end-market demand, tariff-related complications, as well as long lead times and delivery delays from US mills. The cherry on top? An ever shrinking availability of spot tons from domestic mills.
Algoma aims to increase plate prices by US$60/ton, hints at fuel surcharge
Algoma Steel aims to increase plate prices by US$60 per short ton (CA$80/st), effectively immediately, according to a letter to customers dated Thursday.
Algoma Steel and Roshel Inc. partner in new defense joint venture
Canada's Algoma Steel and Roshel Inc. have partnered to form Roshel Algoma Defence (RADS), a sovereign ballistic steel solutions joint venture.
Algoma anticipates another quarterly loss as shipments plummet
Algoma Steel Group Inc. released first-quarter earnings guidance, expecting to report a significant decline in shipments and adjusted EBITDA as the steelmaker continues its transition to electric-arc furnace steelmaking.
Layoffs begin as Algoma Steel unwinds integrated operations
The layoffs at Algoma Steel’s integrated facility went into effect today. Going forward, it will use the electric arc furnace (EAF) for producing its steel.
Canadian government limits executive compensation packages at Algoma
The Canadian government has placed limits on salaries, bonuses, and other forms of compensation for top executives at Algoma Steel, according to a local media report.
Algoma Steel resets business around Canada as tariffs shut door to US
Algoma Steel said the Section 232 tariff shock continues to shape its business model. The 50% US duty effectively shut the company out of its largest export market, forcing a structural pivot toward Canada.
Algoma scales back coil production as losses mount
Algoma Steel Inc. added to its mounting losses during the fourth quarter. Sales and shipments plummeted as ongoing trade tensions between Canada and the US force the Sault Ste. Marie, Ontario-based steelmaker to reconfigure its entire business model.
Final Thoughts
I want to say a big thank you to everyone who attended the Tampa Steel Conference. More than 600 people – smashing the record we set last year.
Algoma Steel supplies Davie shipbuilders with plate for Polar Max program
Plate production for the construction of the Polar Max Icebreaker is underway at Algoma’s Sault Ste. Marie facility in Ontario.
CRU: South Korean ship maker may help Algoma build steel mill
This news item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com. Canada’s Algoma Steel signed a binding Memorandum of Understanding (MoU) with Hanwha Ocean to support Canada’s submarine program and Algoma’s diversification strategy. A new structural steel beam mill may result. Financial support, subject to conditions being […]
Algoma charges BF #7 for last time, begins fully EAF era
The final charge of Algoma Steel’s #7 blast furnace occurred on Saturday, as the company transitions to fully electric-arc furnace (EAF) steelmaking.
Tariffs, blast furnace wind-down push Algoma further into red
Algoma Steel Group Inc. is preparing to report another significant quarterly loss as it winds down its blast furnace operations and ramps up electric-arc furnace steelmaking.
Judge sends U.S. Steel v. Algoma pellet contract spat to arbitration
A federal judge in Pittsburgh has ordered U.S. Steel and Algoma Steel to resolve their iron ore pellet contract dispute through arbitration. The decision comes after USS sued the Canadian steelmaker for refusing a shipment of iron ore pellets from U.S. Steel's Minnesota operations in September.
Final Thoughts: US-Canada scrap flows set for change?
Canadian steelmaker Algoma's plans to bring forward the scheduled full transition to electric-arc furnace (EAF) steel production by one year merits a revisit. Why? Because of its potential impact on ferrous scrap flows between the US and Canada.
Canadian government could help Algoma build two new heavy structural mills: Reports
Plans are in the works to save 500 steelworker jobs at Algoma Steel and to construct two new mills – a plate mill and a beam mill, according to various local media reports.
Algoma lays off workers, slates BF closure amid US tariff woes
Canada’s Algoma Steel announced ~1,000 layoffs on Monday as a result of disruptions from the US tariff situation.
Algoma's Garcia named 'CEO of the Year' by The Globe and Mail
Algoma Steel CEO Michael Garcia has been recognized by Canada’s The Globe and Mail newspaper as “CEO of the Year: Corporate Citizen.”
Algoma finalizes CA$500M loan from Canadian government
Algoma Steel plans to continue its transition to electric-arc furnace (EAF) steelmaking using the CA$500 million in loans from the Ontario provincial and Canadian federal governments.