BNN Bloomberg
🏢 Bell Media
May 13, 2026
· 3 min read
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Tariffs, transition to electric furnace lead to Algoma Steel’s $159M Q1 loss - BNN Bloomberg
Original article ↗B.I.A.S. ANALYSIS
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LEFTCENTERRIGHT
Signal breakdown
Heuristic (v1/v3)
0.00 · CENTER
ML v2 (DistilBERT)
0.000 · CENTER
Ensemble
0.000 · CENTER
🏦 Source Intelligence
Rolling outlet bias
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avg -0.030
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Article Excerpt
Algoma Steel, which has transitioned to electric arc furnace steelmaking and is reeling from 50 per cent U.S. tariffs, reported a first-quarter consolidated operating loss of $153.5 million on May 12.
The company’s net loss was $159.4 million, compared to a net loss of $24.5 million a year earlier.
That compares with a loss of $139.9 million for the same quarter in 2025.
In a news release, Algoma said its results “were significantly impacted by the transition from legacy blast furnace operations to the company’s new electric arc furnace platform, as well as a materially more adverse tariff …
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Jun 8, 2026