12:23:47 EDT Thu 22 Oct 2026
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-10-21 C$ 6.30
Market Cap C$ 665,667,248
Recent Sedar+ Documents

Globe says Algoma Steel told PM, Ford to help industry

2026-10-22 07:56 ET - In the News

The Globe and Mail reports in its Thursday edition that Prime Minister Mark Carney and Ontario Premier Doug Ford announced nearly $9-billion in support on Wednesday for the steel and auto sectors. The Globe's triple-bylined item led by Laura Stone reports that support includes over $5-billion for the steel sector, enabling mills to upgrade machinery, increase production of needed products and expand into non-U.S. markets. The five-year funding commitments consist of $3.55-billion from Ottawa and $1.67-billion from Ontario. Both will also contribute a total of $2.5-billion for the auto sector. It was not clear whether the funds announced are all new or are a mix of new funding and allocations from previously announced aid programs. The funds and strategic support are also aimed at lessening Canada's reliance on the United States market by helping businesses find new markets but also produce more of what Canada needs at home. The PM said Ottawa is also strengthening enforcement to protect against foreign steel dumping. Due to tariffs, Canada's auto exports to the U.S. have dropped over 10 per cent, while U.S. exports to Canada have decreased by more than 20 per cent, despite Canada being the U.S.'s largest customer.

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