Market rebound is ahead: Lundgren

Oct 25, 2012 | 05:55 PM | Lisa Gordon

Tags  scrap exports, scrap prices, Schnitzer Steel Industries, Tamara Lundgren, Amix, 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 company’s fiscal fourth-quarter earnings results. Sales from the company’s recycling segment accounted for about 85 percent of Schnitzer’s 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.....





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