OmniSource mum on May scrap trend
Apr 18, 2013 | 03:17 PM
| Lisa Gordon
PITTSBURGH OmniSource Corp.s top executives are keeping the expected direction of May ferrous scrap prices close to the vest.
"I can make a case it is going to go down in May and I can make a case it is going to go up in May," Russ Rinn, president and chief operating officer of the Steel Dynamics Inc. recycling subsidiary, told investors during a conference call to discuss SDIs first-quarter financial results.
OmniSources top brass also declined to comment on whether the Fort Wayne, Ind.-based company has been able to procure scrap at prices below April scrap market settlement levels.....
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