More Pink Slips at Algoma Steel Could Be Coming

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At least ten employees have been handed pink slips at Algoma Steel this week and more could be coming.

Brenda Stenta, manager of communications and branding for Algoma Steel say the layoffs are a result of market conditions.

Stenta said that the plant is not forecasting near-term market recovery and more adjustments could be made in the coming days and weeks.

The steel market continues to be volatile saying the market price for hot rolled steel coil is hovering around $500USD per ton compared to $900 UDS / ton just two years ago,

 

9 COMMENTS

  1. Thanks to our lovely government and allowing the chinese steel deal to happen. Trudeau doesnt give a shit about the steel plant or people of the sault.

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