Schnitzer profits to return on scrap price rebound

摘要

Schnitzer Steel Industries expectsto post a loss for its fiscal second quarter,which ended February 29, but expects currentquarterscrap prices to rebound.Schnitzer said significantly weaker scrapexport demand in the latter half of fiscalQ2 led ferrous and nonferrous sales pricesto fall to multi-year lows. The lower priceenvironment adversely impacted scrap flowsand compressed metal spreads, the companysaid, issuing its fiscal Q2 guidance Tuesday.