Algoma Steel Group (ASTL) said late Tuesday it expects a Q2 adjusted EBITDA of CA$5 million ($3.5 million) to CA$15 million and steel shipments of 175,000 tons to 180,000 tons.

The firm said the EBITDA guidance includes the benefit of a final insurance settlement of CA$45 million over the coke-making utility corridor incident in January 2024, and a capacity utilization adjustment benefit of CA$50 million to CA$55 million.