Welcome to our dedicated page for Algoma Steel Grp news (Ticker: ASTL), a resource for investors and traders seeking the latest updates and insights on Algoma Steel Grp stock.
Algoma Steel Group Inc. (ASTL) generates a steady flow of news as it advances a major transformation of its steelmaking operations and navigates a complex trade environment. Based in Sault Ste. Marie, Ontario, the company is a fully integrated producer of hot and cold rolled steel sheet and plate and communicates regularly about its operating performance, capital projects and strategic responses to market conditions.
News coverage for Algoma often centers on quarterly financial results, guidance updates and commentary on the impact of tariffs on its shipments, pricing and margins. Investors and industry observers can expect articles discussing revenue trends, Adjusted EBITDA performance, shipment volumes and the company’s use of non-GAAP measures to describe operating results. These releases typically include management’s perspective on steel market conditions and trade-related headwinds.
A significant portion of Algoma’s news flow focuses on its transition to electric arc furnace (EAF) steelmaking and modernization of its plate mill. Updates have highlighted milestones such as achieving first arc and first steel from its new EAF unit, the ramp-up schedule, and the expected reduction in carbon emissions once the transition is complete. The introduction of the Volta brand for EAF-produced steel and the company’s positioning as a producer of low-carbon, Canadian-made steel are recurring themes.
Algoma’s news also covers financing and liquidity developments, including government-backed loan facilities from Canada and Ontario, amendments and upsizing of its asset-based revolving credit facility, and other measures designed to support its balance sheet during a period of elevated tariffs. Leadership changes, board updates and strategic decisions such as dividend suspensions are also disclosed through press releases.
For readers following ASTL news, this page offers a consolidated view of these announcements, providing context on how Algoma is managing trade challenges, funding its EAF project and positioning its plate and sheet products within North American industrial and infrastructure supply chains.
Algoma Steel (NASDAQ: ASTL) and Hanwha Ocean signed a binding MOU on Jan 26, 2026 to pursue a long-term strategic arrangement supporting Canada’s Canadian Patrol Submarine Project (CPSP).
The arrangement has an aggregate potential value of USD $250 million comprised of a USD $200 million cash contribution toward a proposed structural steel beam mill in Sault Ste. Marie and up to USD $50 million in anticipated Algoma product purchases for CPSP construction and MRO. The MOU is conditional on Hanwha Ocean receiving and executing a CPSP contract and on definitive agreements with Algoma. Algoma would pay Hanwha 3.0% of beam-mill net sales annually for ten years, subject to performance.
Algoma Steel (NASDAQ: ASTL) provided guidance for the quarter ended Dec. 31, 2025. Total steel shipments are expected at 375,000–380,000 tons. Adjusted EBITDA is projected at negative $95 million to negative $105 million. Management said fourth-quarter results reflected steel tariffs and the near-complete wind-down of blast furnace operations. The company reported the first unit of its Electric Arc Furnace project is ramping and now operating 6 days per week, with the second unit remaining on schedule. Algoma said it expects to complete the transition to EAF steelmaking during the current quarter and is advancing discussions to expand finishing capabilities.
Algoma Steel (NASDAQ: ASTL; TSX: ASTL) completed a $500 million government financing on Nov 17, 2025.
The package comprises $400 million from Canada Enterprise Emergency Funding Corporation (including an $80 million secured tranche) and $100 million from the Province of Ontario (including a $20 million secured tranche). Algoma issued 6.77 million common share purchase warrants exercisable at $11.08 per share for a 10-year term, vesting with unsecured draws. The company said the seven-year facilities strengthen the balance sheet and provide liquidity to advance its Electric Arc Furnace (EAF) transformation and near-term operational milestones.
Algoma Steel (NASDAQ: ASTL) announced a planned leadership transition: CFO Rajat Marwah will become President and CFO on Nov 1, 2025 and will assume the role of CEO on Jan 1, 2026, succeeding Michael Garcia upon his retirement at year‑end. Michael Moraca will be appointed CFO effective Jan 1, 2026.
The company said liquidity support has been secured from federal and provincial governments and that steel is being produced at its Electric Arc Furnace, framing the transition as timely for Algoma’s EAF-driven transformation.
Algoma Steel (NASDAQ: ASTL) reported Q3 2025 results with consolidated revenue of $523.9M and a net loss of $485.1M, driven largely by a $503.4M non‑cash impairment and trade headwinds.
The company advanced its EAF transition with first arc and first steel in July, expects to ramp to a five‑day schedule in mid‑November, targets ~3.7M tonnes annual raw steel capacity post‑conversion, and projects ~70% annual carbon emissions reduction. Algoma secured $500M government‑backed liquidity and increased ABL availability, ending the quarter with $337.1M liquidity.
Algoma Steel Group (NASDAQ: ASTL; TSX: ASTL) will release its 2025 third quarter financial results after market close on Wednesday, October 29, 2025. A webcast and conference call to review results and take questions will be held on Thursday, October 30, 2025 at 11:00 a.m. Eastern Time. Investors can access the live webcast and archived replay on the company's Investors website at www.ir.algoma.com. Domestic dial-in is 877-425-9470 and international dial-in is 201-389-0878. Replay access is available via 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13756491.
Algoma Steel (NASDAQ: ASTL) has provided guidance for Q3 2025, projecting total steel shipments of 415,000 - 420,000 net tons with an expected Adjusted EBITDA of negative $80-90 million. The company achieved a significant milestone with the first arc and steel production from its new electric arc furnace (EAF) in July, marking progress in its transition to low-carbon steelmaking.
The company also announced that David Sgro has resigned from the board of directors. Sgro served as Chair of the Human Resources and Compensation Committee and was a member of the Operations and Capital Projects Committee during the company's transformation period.
Algoma Steel (NASDAQ: ASTL) has secured C$500 million in liquidity support from Canadian governments, including C$400 million from the federal government and C$100 million from Ontario. The financing comes as a response to challenging market conditions caused by 50% U.S. tariffs on Canadian steel.
The seven-year facilities include a C$100 million third lien secured tranche and a C$400 million unsecured tranche with warrant issuance. Interest rates start at CORRA + 200 bps for three years, increasing by 200 bps annually thereafter. The company will issue 6.77 million warrants at C$11.08 per share with a 10-year term.
In response to market conditions, Algoma will exit blast furnace and coke oven operations while accelerating its transition to Electric Arc Furnace steelmaking, with expected project costs of C$987 million. The company will focus on plate and select coil products primarily for the Canadian market.
Algoma Steel (NASDAQ: ASTL), a leading Canadian steel producer, has successfully increased its asset-based revolving credit facility (ABL Facility) from US$300 million to US$375 million. The US$75 million expansion is provided by Export Development Canada (EDC), which joins existing lenders Wells Fargo and BMO Capital Markets.
This strategic move is part of broader liquidity initiatives to strengthen Algoma's financial position amid challenging market conditions affected by tariffs. The ABL Facility maintains its first-priority lien on accounts receivable, inventory, and related assets of Algoma and its subsidiaries.
Algoma Steel (NASDAQ: ASTL) reported challenging Q2 2025 financial results, with consolidated revenue declining to $589.7 million from $650.5 million year-over-year. The company posted a net loss of $110.6 million, compared to net income of $6.1 million in Q2 2024, and an Adjusted EBITDA loss of $32.4 million.
Key challenges included U.S. tariffs of 50% under Section 232, resulting in $64.1 million in tariff costs and significant market disruption. Steel shipments decreased to 472,056 tons from 503,152 tons year-over-year. In response to market conditions, the company has suspended its quarterly dividend.
Despite challenges, Algoma achieved a significant milestone with first steel production from its new Electric Arc Furnace (EAF) in early July, marking progress in its transformation to become one of North America's lowest-cost green steel producers. The EAF project, with $881 million invested to date, is expected to reduce carbon emissions by 70%.
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