Weaker prices, demand land Schnitzer in red
Jan 08, 2014 | 04:48 PM
| Rey Mashayekhi
NEW YORK Schnitzer Steel Industries Inc. expects improving sales prices and export volumes within its metals recycling division to contribute to positive results in the 2014 fiscal year following a fiscal first-quarter net loss.
Portland, Ore.-based Schnitzer posted a net loss of $6.2 million for the three months ended Nov. 30, nearly four times the $1.7-million net loss recorded in the same year-ago period, which it attributed to weak pricing and demand at the start of the quarter.....
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