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Algoma Steel expects fourth-quarter losses between $95 million and $105 million due to U.S. tariffs. Steel shipments are projected at 375,000 to 380,000 tons. The company is ramping up its Electric Arc Furnace (EAF) project and transitioning from blast furnace operations.

Algoma will receive $500 million in federal and provincial assistance to address tariff impacts, with 1,000 layoffs announced for March 23. The federal contribution is $400 million, and the provincial share is $100 million.