Market rebound is ahead: Lundgren
Oct 25, 2012 | 05:55 PM
| Lisa Gordon
PITTSBURGH While Schnitzer Steel Industries Inc. expects near-term scrap prices to strengthen, the company warned that the roller-coaster ride will continue until the economy as a whole improves.
But there are signs on the horizon pointing to more favorable prices in November, president and chief executive officer Tamara Lundgren said during a call to discuss the Portland, Ore.-based companys fiscal fourth-quarter earnings results. Sales from the companys recycling segment accounted for about 85 percent of Schnitzers revenue.
"After being out in August and September, China is back in the market. Turkey ... we expect to see them back in the market next week and we are beginning to see prices firming," she said.....
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.