Sault Ste Marie Ontario based Canadian producer of hot and cold rolled steel sheet and plates Algoma Steel announced consolidated revenue of CAD 934.1 million in April-June 2022 quarter, up 18.4% from USD 789.1 million in the prior-year quarter & net income of CAD 301.4 million as compared to CAD 203.6 million in the prior-year quarter. Algoma Steel Chief Executive Officer Mr Michael Garcia said “The momentum we established in fiscal 2022 continued with another quarter of strong results in what has been a volatile operational environment. We delivered year-over-year improvement in revenue and adjusted EBITDA even as we undertook a significant planned outage to upgrade our plate mill facility. Our results continue to reflect our differentiated execution, along with the hard work and dedication of the entire Algoma team.”Average realized price of steel net of freight and non-steel revenue was CAD 1,632 per ton, up 37.8% from CAD 1,185 per ton in the prior-year quarter.Cost per ton of steel products sold was CAD 920, up 32.4% from CAD 695 in the prior-year quarter.Shipments decreased by 11.9% to 537,524 tons, compared to 610,057 tons in the prior-year quarter.Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. With a current raw steel production capacity of an estimated 2.8 million tons per year, Algoma’s size and diverse capabilities enable it to deliver responsive, customer-driven product solutions straight from the ladle to direct applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in Canada and Midwest USA and is the only producer of plate steel products in Canada.