20
Dec
16:08
Schnitzer fiscal first-quarter profits fall on-year
US metals recycler and longs producer Schnitzer Steel Industries expects to announce slightly lower earnings in the fiscal first quarter due to lower non-ferrous prices and disruptions within its Cascade Steel division, Kallanish understands.
Schnitzer plans to announce net income for the quarter ended 30 November of $0.53-0.57/share, down from fiscal Q1 2018’s $0.64/share.
A 5% gain in ferrous scrap prices was more than offset by plunging non-ferr…
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Very good overview of the weekly steel market.
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