Schnitzer sees weaker operating results as margins slim
May 18, 2012 | 01:43 PM
| Sean Davidson
Tags
ferrous scrap,
nonferrous scrap,
steel,
Schnitzer Steel Industries,
Sean Davidson
NEW YORK — Depressed steel sales volumes have Schnitzer Steel Industries Inc.'s operatons bracing for weaker sequential results in its fiscal third quarter, the company said Thursday.
In a market outlook for its fiscal third-quarter ending May 31, the company said its steel manufacturing segment’s sales volumes "are expected to decline slightly, while average sales prices and utilization are expected to be in line with the second quarter, resulting in operating performance which is slightly below breakeven."
However, the Portland, Ore.-based company clarified that actual financial performance will be subject to market conditions and the timing of shipments, among other factors.....
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