By Sabela Ojea
Algoma Steel Group has extended its iron-ore purchase contract with U.S. Steel Corp. as it transitions to sustainable steel production through electric arc steelmaking.
The Canadian producer of steel on Monday said it signed a two-year contract extension with U.S. Steel, with an option to extend it for a third year.
“The extension of this agreement provides the foundation for a reliable supply chain and uninterrupted access to essential raw materials to meet our production capacity and service the demands of our valued customers throughout North America,” Algoma Steel Chief Executive Michael Garcia said.
U.S. Steel is the third-largest steel producer in the U.S.
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