Algoma's Income Declines Despite Increase in Sales

June 2007
Metal Center News;Jun2007, Vol. 47 Issue 7, p90
Trade Publication
The article reports on the decline in the net income for the first quarter of 2007 of Algoma Steel Inc. in the U.S. Company officials cite that the decrease was caused by the lower average selling prices and higher natural gas and iron ore costs. In addition, Denis Turcotte, president and chief executive officer (CEO) of Algoma, asserts that the impact of a return to stronger sales volumes is mitigated by pricing that averages $22 per ton lower than the previous quarter.


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