PSC Metals steps into red ink in 3d quarter

Nov 08, 2010 | 07:45 AM | Lisa Gordon

Steel mills are operating at improved utilization rates but are opting to keep their scrap inventories low, according to PSC Metals Inc., which fell into red ink in the third quarter.

The wholly owned subsidiary of Icahn Enterprises LP posted an operating loss of $2 million for the three months ended Sept. 30 in contrast to operating earnings of $1 million in the same period last year despite a 28-percent increase in sales to $169 million from $132 million. But the metals segment....

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