
Citing US tariffs, Algoma ups credit facility to $375M
Algoma Steel is increasing its credit facility from USD$300 million to USD$375 million due to "market conditions."
Algoma Steel is increasing its credit facility from USD$300 million to USD$375 million due to "market conditions."
“Contractors say that they're still busy, but their order books have gotten a lot softer or a lot more uncertain,” said Ken Simonson, chief economist for The Associated General Contractors of America.
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.