Robust market leads Sims to profit

摘要

Global recycler Sims Metal Management this week posted net profit of A$204 M (US$162 M, €137 M) forthe financial year ending 30 June, overturning an A$217 M loss in the previous 12 months."External market conditions have shown steady signs of improvement," the Australian-US company said."Steel exports from China have continued to decline since the start of 2016. Lower export volumes haveeased competitive pressures on steelmakers outside China which, in turn, is supporting higher globaldemand for ferrous scrap metal."