Sims back in the black but market remains challenging

Feb 14, 2014 | 10:16 AM | Sean Davidson

Tags  scrap, Sims Metal Management, earnings report, Sean Davidson

NEW YORK — Sims Metal Management Ltd. swung back into the black in the first half of its fiscal year on increased sales volumes.

Despite the improvement, the company said ferrous scrap market conditions remain challenging as it enters the second half of its fiscal year.

"Severe winter weather conditions in North America have restricted industry ability to collect and process at normal levels. Our ability to react as temperatures warm and scrap metal availability loosens will be a key determining factor for success," the company said in its earnings report Feb. 13. ....

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