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Algoma expects 65% drop in Q3 steel shipments after turbine outage (ASTL:NASDAQ)

Metal smelting furnace in steel mills

zhaojiankang/iStock via Getty Images

Algoma Steel (ASTL) fell 2.4% post-market Thursday after warning it expects to report a sharp decline in Q3 steel shipments due to the impact on production caused by a turbine outage.

The Canadian steel producer guided for Q3 steel shipments of ~145K

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