Algoma Steel reports Q4 revenue C$455.0M vs. C$590.3M last year

Rajat Marwah, CEO, commented, “The fourth quarter marked a pivotal moment in Algoma’s transformation. While the 50% U.S. Section 232 tariffs (S232 Tariffs) created real headwinds, closing the American market to Canadian producers and driving domestic pricing well below historical norms, we responded with decisive action and emerged with a clearer, stronger strategic path forward. Operationally, we are encouraged by the early performance of our first electric arc furnace (EAF). The facility is now operating on a continuous 24-hour schedule, with furnace and melt shop systems performing as designed and product quality meeting specifications across both plate and hot-rolled coil grades. Successfully producing high-quality sustainable steel from the EAF at scale represents a critical milestone in our multi-year transition and reinforces our confidence in the long-term benefits of the new operating platform.”