Canada-based steel producer Algoma Steel has announced its guidance for its third quarter ending December 31, 2024, of the fiscal year 2024-25.
The company expects its total steel shipments in the given quarter to be in the range of 545,000 to 550,000 mt. Adjusted EBITDA is expected to be in the range of minus CAD$55-65 million.
Michael Garcia, Algoma’s CEO, said, “The electric arc furnace project reached a major milestone in the quarter with the commencement of cold commissioning activities, which are accelerating. We encountered record days of snowfall in late November and early December at the site which briefly impacted project work. We do not expect any material delay in our plan for first steel production by the end of the first quarter 2025.”
