13:35:32 EDT Thu 08 Oct 2026
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-10-07 C$ 6.05
Market Cap C$ 639,251,881
Recent Sedar+ Documents

Globe says Algoma hears Cliffs boss insult customer

2026-10-08 08:07 ET - In the News

The Globe and Mail reports in its Thursday edition that Cleveland-Cliffs boss Lourenco Goncalves has fired back at a Stelco customer who has doubted his rationale for pulling out of the galvanized steel market in Canada. The Globe's Niall McGee writes that Mr. Goncalves maintains that the 50-per-cent tariff U.S. President Donald Trump imposed on Canada last year has closed off that key market for the company and the Canadian government isn't doing enough to keep cheap imports out of the country. Jim Ritchie, the owner of steel distribution company Cascadia Metals Ltd., called that explanation "a joke." He said the price of coated steel has rocketed higher this year in Canada and "it's never been a better time to make galvanized steel in Canada." In response, Mr. Goncalves called Mr. Ritchie a "walking eagle," meaning a bird that can't fly because it is full of shit. Mr. Goncalves also said Mr. Ritchie is "part of the problem" because Cascadia imports steel from overseas, which drives down the price of the product in Canada. Mr. Ritchie said he is a big buyer of galvanized steel from Stelco and with the company no longer producing the product, it has left Cascadia in a jam, forced to import from overseas markets.

© 2026 Canjex Publishing Ltd. All rights reserved.