24
Oct
17:36
Schnitzer returns to profit in fiscal 2017
US metals recycler and longs' producer Schnitzer Steel Industries returned to profitability in 2017 on the back of increased global economic growth and lower Chinese steel exports, Kallanish reports.
Schnitzer recorded a net profit of $1.60/share ($45 million) on sales of $1.68 billion in the fiscal year ended 31 August, up from a loss of $0.66/share ($18m) on sales of $1.35 billion in fiscal 2016.
“In fiscal 2017, the combination of improved US and…
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Anonymous
Very good overview of the weekly steel market.
Anonymous