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home / news releases / algoma steel underpriced from both cyclical and eaf

ASTLW - Algoma Steel: Underpriced From Both Cyclical And EAF Perspectives

Algoma Steel Group Inc. Warrant

2024-03-15 06:00:50 ET

Summary

  • Algoma Steel Group is transforming its steel-making process from Blast Furnace to Electric Arc Furnace, which is expected to improve margins.
  • The Company should be assessed based on the performance over the steel cycle. I used its peers' performances to assess its cyclical performance and EAF improvements.
  • Based on these, there is a margin of safety. ASTL is also strong financially providing some leeway in case of a prolonged downtrend and delays in its EAF transformation.

Investment Thesis

Algoma Steel Group ( ASTL ) is a steel company that is transforming its Blast Furnace steel-making process into an EAF one. As steel is a cyclical commodity, this makes ASTL a cyclical company. However, ASTL was only formed in 2021....

For further details see:

Algoma Steel: Underpriced From Both Cyclical And EAF Perspectives
Stock Information
Company Name: Algoma Steel Group Inc. Warrant
Stock Symbol: ASTLW
Market: NASDAQ
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