Algoma Steel (ASTL) GlobeNewswire·2025-01-02 22:30Core Viewpoint - Algoma Steel Group Inc. anticipates total steel shipments for Q4 2024 to be between 545,000 to 550,000 tons, with an expected Adjusted EBITDA loss ranging from CAD (65) million, reflecting ongoing market challenges but solid operational execution in specific segments [2][3]. Company Overview - Algoma Steel Group Inc. is a leading Canadian producer of hot and cold rolled steel products, including sheet and plate, and is the only producer of discrete plate products in Canada [4]. - The company is based in Sault Ste. Marie, Ontario, and serves various sectors such as automotive, construction, energy, defense, and manufacturing [4]. Operational Highlights - The company reported solid operational execution in its plate business, with production continuing to rise despite macroeconomic uncertainties in the steel sector [3]. - The Electric Arc Furnace project has reached a significant milestone with the start of cold commissioning activities, and the company expects to produce its first steel by the end of Q1 2025 [3]. Strategic Initiatives - Algoma is undergoing a transformation to modernize its plate mill and adopt electric arc technology, aiming to significantly reduce carbon emissions and position itself as a leading producer of green steel in North America [5]. - The company emphasizes its commitment to environmental stewardship and recycling principles as part of its modernization efforts [5]. Market Position - Algoma is recognized for its ability to provide a secure steel supply and is focused on delivering customer-driven product solutions, enhancing its value proposition in the North American market [6].