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Algoma Steel Group Inc. is a Canadian company headquartered in Sault Ste. Marie, Ontario, specializing in the production of clean and consistent light gauge steel. They offer a diverse range of hot and cold rolled steel sheet and plate products. Algoma operates in the basic steel production segment, including sheets, plates, slabs, and freights. The company's revenue is primarily derived from contracts for producing, shipping, and delivering steel products. Geographically, they serve Canada, the United States, and global markets, with a focus on domestic sales. Algoma generates the majority of its revenue from the sale of steel sheets and strips. Committed to environmental stewardship, Algoma is investing in modernization and adopting electric arc technology to reduce carbon emissions. They aim to become one of North America's leading producers of green steel, ensuring a secure steel supply and a sustainable future.Rhea-AI Summary
Algoma Steel Group Inc. extends iron ore purchase contract with U.S. Steel, supporting transition to electric arc furnace steelmaking.
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Algoma Steel Group Inc. provides guidance for its fiscal second quarter, expecting total steel shipments of 540,000 to 550,000 tons and Adjusted EBITDA of $75 million to $85 million. Plate Mill modernization project reaches key milestone. Work stoppages at North American auto manufacturing facilities affecting steel markets and realized pricing. Annual steel making vessel reline and seasonal maintenance planned for fiscal third quarter. Electric Arc Furnace project progressing as expected.
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Algoma Steel Group Inc. announced the results of voting at its annual meeting of shareholders. All nominees were elected as directors of the Company. The appointment of Deloitte LLP as the Company's auditors for the 2023 fiscal year was also passed. No significant positive or negative business takes affecting stock price were identified.
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Algoma Steel Group Inc. announces a C$120,000 donation to United Way's Harvest Algoma project, supporting food rescue and distribution in Sault St. Marie.
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Algoma Steel Group Inc. issues its first annual ESG report, highlighting its transformation to green steel and commitment to ESG factors. Construction of the EAF steelmaking project is underway and expected to reduce carbon emissions by up to 70%. The report was prepared in accordance with leading ESG disclosure standards.
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Algoma Steel Group Inc. will be participating in the Jefferies 2023 Industrials Conference. The Company will post a copy of the presentation on its website.
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Algoma Steel Group Inc. (ASTL) announced the release of its fiscal 2024 first quarter financial results on August 10, 2023, with a webcast and conference call on August 11, 2023. Investors can access the webcast and archived replay on the Company’s website. The conference call details are also provided for those unable to access the webcast.
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FAQ
What is the current stock price of Algoma Steel Group Warrant (astlw)?
The current stock price of Algoma Steel Group Warrant (astlw) is $2.2599 as of November 22, 2024.
Where is Algoma Steel Group Inc. headquartered?
Algoma Steel Group Inc. is headquartered in Sault Ste. Marie, Ontario, Canada.
What products does Algoma Steel Group Inc. offer?
Algoma Steel Group Inc. offers a range of hot and cold rolled steel sheet and plate products.
What segment does Algoma Steel Group Inc. operate in?
Algoma Steel Group Inc. operates in the basic steel production segment, including sheets, plates, slabs, and freights.
Where does Algoma Steel Group Inc. generate its revenue from?
The company generates its revenue primarily from contracts to produce, ship, and deliver steel products.
What is Algoma Steel Group Inc.'s focus geographically?
Algoma Steel Group Inc. serves Canada, the United States, and global markets, with a strong emphasis on domestic sales.
What is Algoma Steel Group Inc.'s commitment to the environment?
Algoma Steel Group Inc. is investing in modernization and adopting electric arc technology to significantly lower carbon emissions and become a leading producer of green steel.
What is Algoma Steel Group Inc.'s vision for the future?
Algoma Steel Group Inc. aims to deliver secure steel supply and a sustainable future as a partner in steel, drawing on its rich steelmaking tradition.
What sets Algoma Steel Group Inc. apart as a steel producer?
Algoma Steel Group Inc. stands out as a key supplier of steel products in North America and the only producer of discrete plate products in Canada.
How is Algoma Steel Group Inc. contributing to a greener future?
Algoma Steel Group Inc. is focusing on modernization and adopting environmentally friendly technologies to reduce carbon emissions and enhance sustainability.
What industries does Algoma Steel Group Inc. cater to?
Algoma Steel Group Inc. delivers responsive, customer-driven product solutions to industries such as automotive, construction, energy, defense, and manufacturing.
Algoma Steel Group Inc. Warrant