[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

1 hour ago

A molybdenum concentrate mine in Henan sold 810 mt of ore through an online tender on the 15th.

[Molybdenum Flash] SMM, July 14: A molybdenum concentrate mine in Henan plans to sell 810 mt of molybdenum concentrates via an online tender on July 15, with a reserve price of 5,260 yuan/mtu (cash), raising the reserve price by 200 yuan/mtu from the June 16 tender.

1 hour ago

Common.Time.hoursAgo

July 14 Henan Anyang Steel's Steel Scrap Purchase Price Adjustment

Today, the steel scrap procurement price adjustment for Henan Anyang Steel has been updated. If you need it, please feel free to contact us!

Common.Time.hoursAgo

Humanoid Robots Have Arrived—What New Opportunities Are There for Automotive Lightweight Materials? IRON Humanoid Robot Materials Expert Huang Jiaqi Confirms

Common.Time.hoursAgo