Algoma Steel (US:ASTL) Globenewswireยท2025-01-02 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 ($55) million to ($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].