13:58:55 EDT Thu 23 Apr 2026
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,185,456
Close 2026-04-22 C$ 6.46
Market Cap C$ 679,498,046
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Globe says Algoma Steel boss seeks more help from gov't

2026-04-23 08:59 ET - In the News

The Globe and Mail reports in its Thursday edition that Algoma Steel chief executive officer Rajat Marwah says Canada needs to do more to help the steel sector survive a trade war that has made redundant its U.S.-dependent business model. The Globe's Niall McGee writes that U.S. President Donald Trump imposed 25-per-cent tariffs on imports of Canadian steel early in 2025, and then doubled the levy to 50 per cent midyear. That essentially closed off the American market for steelmakers such as Algoma, which previously relied on the U.S. for about 60 per cent of its revenue. Speaking at The Globe's Intersect conference in Toronto, Mr. Marwah said that while governments have been "quite active in listening and responding," more is needed. Last year, the federal and provincial governments rolled out multiple initiatives to help the industry, including providing hundreds of millions of dollars in direct funding, cracking down on the dumping of foreign steel into Canada and mandating that publicly funded projects use Canadian steel wherever possible. That's not enough as we see it right now," Mr. Marwah said. "More action needs to be taken, ensuring that 'Buy Canada' really sticks," and other policies are really implemented.

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