[Algoma Steel confirms EAF ramp-up on track in Q2 2026 guidance]

Published: Jul 13, 2026 18:49

Save

Canada's Algoma Steel Group issued guidance for its second quarter ended June 30, 2026, projecting total steel shipments of 175,000–180,000 tons and adjusted EBITDA of CAD$5–15 million, a figure boosted by a CAD$45 million insurance settlement tied to a January 2024 coke-making incident and an expected CAD$50–55 million capacity-utilization benefit. The company reported record plate sales and said its first electric arc furnace continued ramping up as expected following the completed shutdown of its last blast furnace in January 2026; a second EAF unit is expected online in the second half of 2026, completing the transition and cutting carbon emissions by roughly 70%. Algoma also introduced "Volta" as its new low-emissions steel brand produced via the EAF route.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

[ArcelorMittal Calvert Advances US Non-Grain-Oriented Electrical Steel Project]

ArcelorMittal Calvert is progressing with the construction of its non-grain-oriented electrical steel (NOES) project in Alabama, with integration and optimization of major production line components underway. The USD 1.2 billion project will have an annual production capacity of up to 150,000 tonnes and is expected to begin production in the second half of 2027. The facility includes annealing and pickling, cold rolling, annealing coating, slitting and packaging lines, targeting demand from electric vehicles, power generation and industrial sectors while reducing US reliance on electrical steel imports."

Common.Time.minsAgo

[SMM Steel] India’s Alang Ship-Breaking Scrap Prices Hold Steady as Supply Constraints Support Market

[India] India’s Alang ship-breaking scrap market remained stable, with HMS (80:20) scrap prices holding around 350 USD/t EXW. Persistent rainfall disrupted ship-breaking activities and limited scrap supply, providing support to market prices. However, downstream steel demand remained weak, keeping mill purchasing cautious, with transactions mainly focused on immediate restocking needs.

Common.Time.minsAgo

[SMM Steel] Vietnam HRC Prices Remain Under Pressure Amid Weak Demand

[Vietnam] Vietnam’s hot-rolled coil market continued to weaken as sluggish downstream demand and slow inventory digestion limited buying activity. Local mills offered discounts of up to 12 USD/tonne to some major customers to stimulate sales, bringing SAE1006 HRC prices down to around 526-529 USD/tonne CIF. Market transactions remained focused on immediate demand, while buyers stayed cautious toward future price movements and showed limited restocking interest. With domestic supply pressure remaining high, Vietnam’s HRC market is expected to face continued downward pressure in the near term, with competition among local producers likely to intensify.

Common.Time.minsAgo