Algoma Steel, based in Sault Ste. Marie, Ontario, saw revenue drop 16 per cent last year, compared to 2024, and it reported a $365 million net loss in the final quarter of 2025. In December, citing tariffs and its transition from electric arc furnace production, the firm announced layoffs of about 1,000 employees.
Why Canada won’t buy Trump’s steel relocation offer
By News Desk
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