ASTL

Algoma Steel Group operates as an integrated steel producer manufacturing hot-rolled, cold-rolled, and coated steel products serving automotive, construction, energy, and manufacturing customers primarily across North America. Headquartered in Sault Ste. Marie, Ontario, Canada, Algoma operates a fully integrated steelmaking complex including two blast furnaces, three basic oxygen furnaces, and downstream processing facilities producing approximately 2.6-3.0 million tons of steel annually. The company specializes in value-added steel grades including high-strength automotive steels, plate products for energy pipelines and structural applications, and coated steels for construction and appliance manufacturing. Algoma's facility advantages include proximity to iron ore mines and Great Lakes shipping routes reducing raw material transportation costs, access to low-cost hydroelectric power from Ontario's provincial grid, and strategic location serving automotive manufacturers concentrated in Ontario, Michigan, and Ohio. The company emerged from creditor protection proceedings in 2018 under new ownership and completed a SPAC merger in October 2021 listing on NASDAQ, using proceeds to fund capital investments modernizing aging equipment and improving operational efficiency. Algoma reported annual revenues of approximately CAD$3-3.5 billion employing approximately 3,000 workers represented by United Steelworkers union. The steel industry remains cyclical with profitability highly sensitive to steel prices driven by supply-demand dynamics, raw material costs particularly iron ore and metallurgical coal, and competition from imports including subsidized Chinese steel despite protective tariffs. Recent strategic priorities include investing CAD$700 million transforming Algoma into North America's first major steel producer using electric arc furnace technology powered by renewable electricity rather than coal-fired blast furnaces, significantly reducing carbon emissions and operating costs.