Algoma Steel Posts Loss in Fiscal Q2 Amid Market Challenges, Focuses on EAF Transformation

Post Views: 601 Algoma Steel   Algoma Steel Reports Revenue Decline Due to Lower Shipments and Falling Steel Prices Algoma Steel Group Inc. reported a significant revenue decline for its fiscal second quarter, ending September 30, 2024. The company’s consolidated revenue fell to CA$600.3 million ($431.9 million), compared to CA$732.6 million ($527.1 million) last year. Steel shipments decreased to 520,443 tons, down from 548,998 tons. A reduction in realized steel prices also contributed to the decline. As a result, Algoma posted an operating loss of CA$83.6 million ($60.15 million), reve...