Canadian Measures to Support Steel Industry Look Positive for Algoma Steel -- Market Talk

Dow Jones

2025/11/27

1135 GMT - Canadian efforts aimed at supporting the country's steel industry promise to be positive for Algoma Steel, though the extent to which the measures support profitable steel pricing in Canada remains uncertain, RBC Capital Markets' James McGarragle says. The analyst says the government believes the measures will unlock over C$1 billion in new domestic steel demand, which compares with the consensus 2025 revenue forecast for Algoma of C$2.1B. McGarragle says that taking these numbers at face value, and assuming Algoma can capture 25% of the upside--which is roughly its percentage of Canadian capacity--implies solid upside potential to next year's estimates. RBC has a sector perform call and C$5.46 target on the stock. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

November 27, 2025 06:35 ET (11:35 GMT)

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