Rajat Marwah

Chief Executive Officer, Algoma Steel Group Inc.

Search every verified Rajat Marwah interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Rajat Marwah, Chief Executive Officer of Algoma Steel, discussed the company's financial and operational outlook during its full-year fiscal 2024 earnings conference call. He stated that the company expects to deliver solid adjusted EBITDA in the first fiscal quarter, in a range of $30 to $40 million, with total steel shipments of 500,000 to 510,000 tons. Marwah noted that North American steel market prices have been volatile, with US Midwest domestic hot rolled coil index pricing falling approximately $400 per ton since January, reflecting ample spot supply, short lead times, economic uncertainty, and cautious buyers ahead of the summer season. He also said that plate pricing continues to demonstrate a significant premium due to high demand, which benefits average price realizations as production levels from the plate mill increase following a planned outage and upgrade. Marwah provided updates on the company's electric arc furnace (EAF) project, stating that commissioning is expected to begin before the end of 2024, with first EAF steel production anticipated in the first calendar quarter of 2025. He described the project as substantially de-risked in terms of schedule and budget, noting that over 60 percent of the capex has been locked down and that the contingency percentage has grown to over 30 percent. He also indicated that the company plans to continue running its current steelmaking assets at full production through 2025 to avoid any significant dip in quarterly shipments during the EAF startup period.