Canada-based Algoma Steel has announced that it has extended its existing iron ore purchase contract with US Steel for two more years.
According to its statement, the company has an option to further extend the contract for a third year. In this way, Algoma Steel will receive the required iron ore volumes to switch to the electric arc furnace route from blast furnace-based production.
A fully integrated hot and cold rolled steel and plate producer, Algoma Steel stated that it is committed to reducing its carbon footprint.
