West Coast construction boosts Schnitzer's steel results

摘要

Strong steel demand from the burgeoning West Coast non-residential construction markets boosted Schnitzer Steel Industries Inc.'s steel segment during the company's fiscal first quarter, but steel product prices suffered due to imports."I would say that even today, we are seeing a strong construction market on the West Coast," chief executive officer Tamara Lundgren said during a Jan. 7 earnings conference call. Lundgren added, however, that competition from cheap imports had resulted in a steep drop in rebar and wire rod prices during the quarter ended Nov. 30.