Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14. The post Greenwave Posts Another Quarterly Loss, Financial Troubles Build appeared first on Steel Market Update.
Sims Metal is expanding its extensive network of scrap recycling facilities in the US with the addition of Baltimore Scrap Corp. (BSC). The post Sims To Acquire Baltimore Scrap Corp. appeared first on Steel Market Update.
Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30. The post Greenwave Posts Loss, Foresees ‘Aggressive Consolidation’ in Industry appeared first on Steel Market Update.
On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market. Tanners chatted with SMU managing editor Michael Cowden about the myth of mill discipline within the sheet market. The market isn’t much more disciplined than a few […] The post SMU Community Chat: Tanners Talks the ‘Myth’ of Mill Discipline appeared first on Steel Market Update.
Greenwave Technology Solutions Inc. is significantly expanding its operations with two new metal recycling facilities, new trucks, and an online car buying program. The Suffolk, Va.-based recycler currently operates 11 facilities in Virginia and North Carolina through its subsidiary Empire Services Inc. This month, its 12th facility will open in Fairmont, N.C., and in December, a […] The post Greenwave Expanding Metal Recycling Capabilities appeared first on Steel Market Update.
Longs producer and scrap recycler Commercial Metals Co. (CMC) has acquired a metals recycling facility in the Galveston, Texas, area. Terms of the deal were not disclosed. CMC acquired the facility and assets from Kodiak Resources Inc. and Kodiak Properties LLC. The majority of the 55,000 tons per year of ferrous and non-ferrous material processed […] The post CMC Acquires Texas Scrap Facility From Kodiak Resources appeared first on Steel Market Update.
Sticking with a business model that’s proven successful over the past three decades, David Stickler and his team at Global Principal Partners (GPP) hope to make their next endeavor with Hybar’s two new rebar minimills another prosperous one. Steel Market Update sat down with the industry veteran this week in an exclusive interview to discuss […] The post INTERVIEW: Stickler Sticks With Proven Model for New Hybar Minimill appeared first on Steel Market Update.
A strong performance from its steel fabrication operations offset lower earnings within its flat rolled steel business, resulting in another strong quarter for Steel Dynamics Inc. The Fort Wayne, Ind.-based steelmaker and recycler reported net income of $914 million on sales of $5.65 billion in the third quarter ended Sept. 30. While sales were 11% […] The post SDI’s Q3 Results Helped by Steel Fabrication Segment appeared first on Steel Market Update.
H2 Green Steel (H2GS) is partnering with Midrex Technologies for its new direct reduced iron (DRI) facility in northern Sweden. Using Midrex’s technology, H2GS’s 2.1-million-metric-tons-per-year facility will run on 100% green hydrogen. Paul Wurth, an SMS group company, will also provide technology and equipment for the first-of-its-kind DRI plant. “We started working together almost two […] The post H2 Green Steel Partners with Midrex, Gets Funding from Kobe Steel appeared first on Steel Market Update.
Supported by high finished steel and scrap prices, Schnitzer Steel Industries Inc. expects its results for full-year fiscal 2022 to be the second best in the company’s history. This week, the Portland, Ore.-based scrap recycler and long steel producer announced its preliminary results for the fourth quarter and fiscal year ended Aug. 31, 2022. Although […] The post Schnitzer to Report Weak Fiscal Q4, Strong Full-Year Results appeared first on Steel Market Update.