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CMISA posted an articleThe plant is on the cusp of entering a new era of steel production see more
The plant is on the cusp of entering a new era of steel production with the first of two $880-million electric arc furnaces (EAF) entering first steel production in April.
All this is happening in the opening rounds of a fast-evolving trade environment, with the Trump administration hammering the Canadian steel and aluminum sector with 25 per cent tariffs on American imports.
Canada has hit back with a dollar-for-dollar 25 per cent tariff on American steel and aluminum imports.
Ottawa’s actions this week to slap retaliatory tariffs will certainly help Algoma’s cause, Garcia said, since there’s approximately 3.5 million tonnes of U.S.-made steel that’s been circulating in the Canadian market over the last 12 months.
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CMISA posted an articleStrong performance for their 125th anniversary year see more
Algoma Central Corporation today reported its results for the year ended December 31, 2024. The St. Catharines-based shipping enterprise reported revenues of $703.4M compared to revenues of $721M in 2023. Net earnings for 2024 were $91.6M compared to earnings of $82.8M in 2023. The Company reported 2024 EBITDA of $200.4M compared to $186M for 2023.
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