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Algoma Steel Expects Q3 Shipments to Come in Around 145K After Previous Power Outage
The guidance reflects lower third-quarter output and a $50 million to $55 million capacity utilization adjustment, the company said.
- On Thursday, Algoma Steel Group Inc. provided guidance for the third quarter ended September 30, 2026, expecting steel shipments of approximately 145,000 tons and an Adjusted EBITDA loss between $10 million and $20 million.
- A turbine outage at Lake Superior Power facility constrained electric arc furnace production, forcing the company to lower shipment volumes and unfavorably shift product mix during the quarter.
- "We have successfully installed a replacement turbine," Algoma CEO Rajat Marwah said, confirming the plant now operates at full power and EAF Unit Two electrical equipment testing is complete.
- During the outage, CFO Michael Moraca noted the company "accelerated planned maintenance" and advanced EAF Unit Two commissioning, reducing future downtime requirements as the transition progresses.
- Algoma's transition to electric arc furnace steelmaking represents one of North America's largest industrial decarbonization initiatives, expected to reduce carbon emissions by approximately 70% once fully transitioned.
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The Toronto Star+6 Reposted by 6 other sources
Algoma Steel expects Q3 shipments to come in around 145K after previous power outage
SAULT STE. MARIE - Algoma Steel Group Inc. has released guidance for the third quarter, saying it expects total steel shipments to be around 145,000 tons.
·Toronto, Canada
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Financial Post
Financial PostAlgoma Steel Group Inc. Provides Guidance for the Third Quarter 2026
SAULT STE. MARIE, Ontario, Oct. 01, 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…
·Woodland Park, United States
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Total News Sources9
Leaning Left5Leaning Right1Center1Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
14%
14%
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