04:48:24 EDT Thu 03 Jul 2025
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 104,933,802
Close 2025-06-06 C$ 8.03
Market Cap C$ 842,618,430
Recent Sedar Documents

Globe says Algoma Steel may get action on dumping

2025-06-09 06:26 ET - In the News

Also In the News (C-RUS) Russel Metals Inc

The Globe and Mail reports in its Saturday edition that Industry Minister Mélanie Joly says a crackdown on the dumping of cheap foreign steel into Canada is coming -- a move that will help cushion the blow for the country's big three steel producers that have been hit with U.S. President Donald Trump's 50-per-cent tariffs. The Globe's Niall McGee writes that Algoma Steel boss Michael Garcia has argued on multiple occasions that mills from China, South Korea, Malaysia, India, Vietnam, the Middle East and Turkey regularly dump steel into Canada. In meetings with federal politicians over the past few days, he has pleaded for Canada to tariff all of these countries. Ms. Joly said she has heard the message loud and clear, and said that action is coming on dumping. "Our goal is to make sure that we protect our jobs, and therefore we need to protect our market, and we won't accept any form of unfair trade practices," she said. "We need to counter dumping, period." While tariffs on foreign steel imports would benefit the big three Canadian steelmakers, it would damage the steel distribution sector, which includes companies such as Cascadia, Varsteel and Russel Metals, and tens of thousands of customers who buy steel from them.

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