Schnitzer logs weaker profits amid falling scrap prices

摘要

Schnitzer Steel Industries Inc. saw fiscal third-quarter profits squeezed as economic woes in the United States and globally bit into profits. The Portland, Ore.-based recyder, scrap exporter and steelmaker also offered a cautious outlook, noting that prices for recycled metals had "declined significantly" since the end of the quarter, a trend that could hurt fiscal fourth-quarter results.