Algoma Steel Group Inc. (NASDAQ: ASTLW)

Algoma Steel Group Inc. is a producer of hot rolled and cold rolled steel products including coiled sheet and plate located on the Great Lakes in Sault Ste Marie Ontario Canada. The company is a flat rolled steel producer in North America and the only producer of discrete plate in Canada with an estimated annual liquid steel production capacity of approximately 2.8 million tons as of December 31 2025. Algoma supplies customers primarily in the automotive construction energy defense and manufacturing sectors.

The company generates revenue from the sale of its hot rolled coil cold rolled coil and plate steel products. Revenue is derived from product shipments to customers across North America with approximately 51 percent of revenue coming from the United States 48 percent from Canada and 1 percent from Mexico for the twelve month period ended December 31 2025. End market breakdown shows transportation accounting for 27 percent manufacturing and construction 21 percent tubular 13 percent and distribution 39 percent of shipments during the same period.

Algoma Steel Group Inc. holds a unique position as the sole domestic producer of discrete plate in Canada and operates as a significant flat rolled steel supplier in North America. The company faces competition from integrated steel producers mini mills and imported steel products but differentiates itself through its electric arc furnace transformation the Volta green steel brand and the modernization of its plate mill. Its proximity to major scrap markets waterborne transportation routes on the Great Lakes and integrated downstream facilities provide logistical and cost advantages. Ongoing investments in low carbon steelmaking aim to strengthen its competitive stance amid evolving environmental regulations and customer demand for greener products.

The company serves a diversified customer base of approximately 235 customers across multiple sectors in North America. The top ten customers accounted for roughly 52 percent of total revenue in the twelve month period ended December 31 2025 with no single customer representing more than 10 percent of revenue. Key customers include automotive original equipment manufacturers construction firms energy companies defense contractors manufacturers service centers tubular industry players and fabrication companies that use discrete plate for railcars bridges ships and heavy equipment.