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Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-08-10 C$ 6.19
Market Cap C$ 654,044,487
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Globe says Algoma Steel gets federal help on shipping

2026-08-11 08:24 ET - In the News

The Globe and Mail reports in its Tuesday edition that the federal government is launching a $100-million rebate program that will partially subsidize the interprovincial shipping costs of Canadian steelmakers. The Globe's Bill Curry writes that the program is aimed at encouraging greater domestic use of Canadian steel as the sector struggles with steep U.S. tariffs on its exports south of the border. Effective immediately, the program will rebate 50 per cent of eligible rail or marine transportation costs for Canadian steel moving between provinces and territories for up to one year, or until the $100-million fund runs out. "Canadian businesses want to use more Canadian materials and our government wants to support that," Transport Minister Steven MacKinnon told reporters in Hamilton. He spoke alongside Ron Bedard, chief executive officer of ArcelorMittal Dofasco, who also chairs the Canadian Steel Producers Association. "Having access to competitive rail rates will help us serve provinces from the East Coast to the West Coast. So we applaud the decision and the implementation of this," Mr. Bedard said. Talks in Washington this week are aimed at negotiating changes to U.S. tariffs on Canadian steel and other products.

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