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Algoma Steel expects shipments of 220K tons in Q1, down year-over-year
CEO Rajat Marwah said the company has fully transitioned to electric arc furnace steelmaking after nearly $1 billion in investment.
- On Tuesday, Algoma Steel Group Inc. disclosed an expected adjusted loss between $25 million and $35 million for the first quarter ended March 31, reflecting its full transition to electric arc furnace steelmaking.
- Fully transitioning to electric arc furnace technology marks a defining moment for the company, following years of planning and nearly $1 billion in investment.
- Total shipments are projected at around 220,000 tons, down significantly from the 469,731 tons reported in the first quarter of 2025 as the new system ramps up.
- Algoma CEO Rajat Marwah stated that despite near-term demand softness, "meaningful sequential improvement in adjusted EBITDA" is expected, with a capacity utilization adjustment benefit of $90 million to $95 million.
- Manufacturing "Volta," its sustainable low-carbon steel brand, at scale, the company aims to serve growing demand across infrastructure, construction, and defense sectors, Marwah said.
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Algoma Steel Group Inc. Provides Guidance for the First Quarter 2026
SAULT STE. MARIE, Ontario, March 31, 2026 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of steel plate and hot rolled sheet products, today provided guidance for its quarter…
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