28
Sep
21:39
Schnitzer sees upcoming profit increase despite price downturn
US longs producer and steel recycler Schnitzer Steel Industries expects its fourth quarter earnings to be up significantly from last year despite lower average prices, Kallanish reports.
Schnitzer expects to report Q4 earnings of $0.55-0.59/diluted share, up from $0.42/share in Q4 2015.
“Average ferrous selling prices are expected to be approximately -10% lower than last year's fourth quarter and ferrous sales volumes are expected to be down by appr…
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Anonymous
Very good overview of the weekly steel market.
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