05:42 PM EST, 01/02/2025 (MT Newswires) -- Algoma Steel Group Inc. ( ASTL ) , a Canadian producer of hot and cold rolled steel sheet and plate products, was at last look down 2% in US after hours as it provided guidance for its quarter ended December 31, 2024.

According to a statement, total steel shipments for the quarter are expected to be in the range of 545,000 to 550,000 tons and Adjusted EBITDA is expected to be in the range of ($55) million to ($65) million.

Michael Garcia, Chief Executive Officer of Algoma, said, "Despite market headwinds, our results for the quarter demonstrated solid operational execution, particularly in our plate business where production continued on its upward trajectory. While macroeconomic uncertainties persist in the steel sector, we remain positioned to capitalize on improving fundamentals as conditions normalize."

"The Electric Arc Furnace project reached a major milestone in the quarter with the commencement of cold commissioning activities, which are accelerating. We encountered record days of snowfall in late November and early December at the site which briefly impacted project work. Our team is working hard on mitigating these impacts and we do not expect any material delay in our plan for first steel production by the end of the first quarter 2025. We continue to make significant progress in our strategic transformation to become one of North America's leading low-carbon steel producers, setting the stage for an exciting 2025."