Oryx Stainless increased its turnover by 6.25% in its financial
year ending on December 31, 2011, the Netherlands-based
stainless scrap trader said last week.
Total turnover for the period rose to €850 million ($1.13
billion), according to a company statement.
Oryx handled 470,000 tonnes of stainless steel scrap in 2011, a
5% year-on-year increase, the company said.
"The 2011 financial year was dominated by a very volatile
nickel price, which makes up 80% of the price for a tonne of
stainless steel," the company said.
To offset this volatility, a new location in Asia has been
operating since February this year.
The expansion supports the group's strategic focus on supplying
scrap from the Asia/Pacific region to local customers.
"We want to broaden our position in the global trade, with
stainless steel scrap as a source of raw material in a steadily
increasing market," executive director Michael Pawlowski said.