Scrap recovery sustainable after brief retreat: CMC
Dec 22, 2009 | 09:49 AM
| Corinna Petry
Commercial Metals Co.'s Americas Recycling division posted operating income of $94,000 during the fiscal first quarter ended Nov. 30, a vast improvement from the $28-million operating loss registered in the same quarter last year, on shipments that improved 4.4 percent to 588,000 short tons and revenue that grew 11.2 percent to $289.5 million.
Although ferrous scrap pricing generally retreated during the November quarter, a recovery was seen very late in the period, according to Murray McClean, CMC's chairman, president and chief executive officer.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.