19
Dec
21:40
Schnitzer plans for Q1 loss
US longs producer and metals recycler Schnitzer Steel Industries expects to report a net loss for its fiscal first quarter, but gathering strength in its scrap segment should buoy its profits in fiscal Q2.
In the quarter ended November 30, Schnitzer anticipates a net loss of $0.05-0.08/share. The company will formally announce its results on 5 January.
In fiscal Q1 2016, Schnitzer posted a net loss of $5 million, Kallanish notes.
Schnitzer sees the demand …
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Very good overview of the weekly steel market.
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