Schnitzer Earnings Soar on High Scrap Prices
Schnitzer Steel tripled its net income from first to second quarter FY 2021 to $46 million, supported by robust revenues of $600 million. Strong demand for recycled metals, higher finished steel prices and elevated scrap pricing resulted in expanded metal spreads and operating margins. Net income per ferrous ton increased to $47 from $14 per […] The post Schnitzer Earnings Soar on High Scrap Prices appeared first on Steel Market Update.