14,917.43 TRY BIST 100 BIST 100
6.67 CNY CNY CNY
53.23 EUR EUR EUR
45.24 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
41.05 TRY Interest Interest
101.45 USD Fossil Oil Fossil Oil
6.19 USD Copper Copper
113.84 USD Silver Silver
110.37 USD Iron Ore Iron Ore
378.00 USD Shipbreaking Scrap Shipbreaking Scrap
6,838.76 TRY Gold (gr) Gold (gr)
112.00 USD Iron Ore 61% Fe Iron Ore 61% Fe

Green Steel Era Begins at Algoma Steel! Final Shift Completed for 1,000 Workers

One of Algoma Steel's largest layoffs in history takes effect today in Sault Ste. Marie, Ontario, Canada.

Green Steel Era Begins at Algoma Steel! Final Shift Completed for 1,000 Workers

As part of its transition from blast furnace and coke production to electric arc furnace (EAF) steelmaking, the company has allowed hundreds of employees to complete their final shifts at the plant. For 125 years, Algoma Steel produced its steel in coal- and coke-fired blast furnaces. However, with the commissioning of the new electric arc furnaces, this traditional system has come to an end, with the goal of reducing carbon emissions by up to 70%.

Last December, the company announced that approximately 1,000 employees would be laid off, citing the need to accelerate its billion-dollar electric arc furnace investment and commissioning process due to U.S. tariffs on Canadian steel.

The decision by Algoma Steel—the largest employer in Sault Ste. Marie—has created significant uncertainty and concern among a substantial portion of the city's workforce.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Vicky A. Mathur : Iranian supply disruptions tightened billet availability in Asia, increasing reliance on China

Thursday, May 7, 2026

Germany’s EUR 5 billion funding plan for industrial decarbonization projects approved

Thursday, May 7, 2026

Australia imposes 82% tariff on Chinese steel imports

Thursday, May 7, 2026

The countdown has begun for Steel Summit 2026!

Thursday, May 7, 2026

Kocaer Çelik increased its EBITDA margin to 14.1% despite challenging global conditions

Thursday, May 7, 2026
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now