• Algoma Steel Group Inc. published its MD&A for Q1 ended March 31, 2026, detailing an accelerated shift to electric arc furnace steelmaking following a permanent halt of blast furnace and coke-making operations on Jan. 18, 2026.
• EAF ramp-up remained on track, with Unit One operating 24 hours per day and meeting quality targets across plate and hot-rolled coil grades, while production focus shifts toward discrete plate with reduced coil output to match Canadian demand.
• Section 232 tariffs remained at 50% as of April 2026, direct tariff costs totaled C$ 27.4 million in Q1, U.S.-bound shipments fell to 28% of total shipments from 52% a year earlier.
• Steel shipments dropped 52.4% to 223,681 tons, revenue fell 42.6% to C$ 296.9 million, average net sales realization rose 21% to C$ 1,193 per ton.
• Liquidity included C$ 65.3 million cash, C$ 195.1 million unused Revolving Credit Facility availability, C$ 292.5 million undrawn under LETL Facilities; Q1 included C$ 127.5 million government loan receipts with C$ 103.7 million net bank indebtedness repaid.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algoma Steel Group Inc. published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.