Algoma Steel Group (TSE:ASTL) has released an update.
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Algoma Steel Group reported a challenging fiscal second quarter with a net loss of $106.6 million, attributed to lower steel shipments and prices. Despite market headwinds, the company managed to achieve shipments and EBITDA within its guidance, aided by a strategic ramp-up in plate production. The upcoming commissioning of their Electric Arc Furnace project marks a significant milestone in their operational transformation.
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