Canada-based steel producer Algoma Steel has announced its guidance for its fourth quarter (January-March) of the financial year 2022-23.
The company expects its total steel shipments to be in the range of 555,000-565,000 mt, higher compared to the previous quarter, as its plate mill has returned to its normal production levels following modernization works.
The company’s adjusted EBITDA is expected to be in a range of CDN $25-30 million in the fourth quarter, due to lower costs.
In addition, Algoma Steel stated that it is making progress on its electric arc furnace project, which is scheduled to be commissioned in mid-2024.