Algoma Steel Group Inc Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David Ocampo - Coremark Securities Inc - Analyst : Thanks for taking my questions. Mike, I was hoping you could provide a little bit more commentary on the sheet pricing discount. I think on the last conference call you guys noted a discount as high as 25%. Is that still the case? And have you been able to find in incremental pocket demand to be able to shift more of your mix from the US to Canada because it has been as high as 60%.

Question: David Ocampo - Coremark Securities Inc - Analyst : Okay, that makes sense. And then I just look at the futures market just as an indication of what's to come. I mean, it's getting close to $800 a ton and with a 25% discount and then compare that to, I think your break even cost structure on sheet at $650. It does suggest that there's more negative even to prints to come. It is that the right way to frame kind of Q2, Q3?

Question: David Ocampo - Coremark Securities Inc - Analyst : Okay. And then just the last one for me on the tariff cost $10 million in the quarter, but that was a partial tariff. So, when I look at 2018, I think you guys got to close to $250 million for the year, so call it $60 million for the quarter. Is that a good proxy for the hit that you guys may see in Q2?

Question: David Ocampo - Coremark Securities Inc - Analyst : Okay, that, that's it for me. I'll hope back in the queue.