Schnitzer revenue falls amid lower scrap prices

Jun 26, 2014 | 04:28 PM | Sean Davidson

Tags  scrap, steel, Schnitzer Steel Industries, Sean Davidson

NEW YORK — Schnitzer Steel Industries Inc. recorded higher domestic ferrous scrap sales during its fiscal third quarter while export volumes fell, but the shift in destinations was unable to prevent total revenue from its ferrous sales from falling 16.8 percent compared with a year earlier.

The company said it shipped 344,526 long tons of ferrous scrap to domestic mills in the three months ended May 31, up 9.6 percent from the same period last year, while exports dropped 20.1 percent to 679,009 long tons.....

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