Schnitzer Steel Industries, Inc. reported positive financial gains this week, with $0.41 earnings per share, compared to losses in the second quarter of 2016. Ferrous sales volumes also increased 13% in the third quarter of 2015. Total domestic volume remains low, as scrap products are exported to international buyers (including India, Turkey, and South Korea).
Analysis Shows Continued Decline Scrap metal prices have fallen by 50 percent in four years, forcing scrap yards to find ways to navigate a tough market. Demand from overseas markets like Turkey and China, which were big customers of scrap metal in boom times, has slowed. Industry watchers say 2015 was an exceptionally awful year
The scrap metal industry at times gets a bad rap, whether it’s criminals trying to extract scrap metal out of an elementary school, or a church, or how about stealing an entire bridge?! The negative public perception that exists of the scrap metal industry unfortunately isn’t going away even as the price of scrap metal declines and
When the Department of Environmental Management steps in to manage industry regulations, the discussion typically turns to government overreach. That’s not the case in Rhode Island, where officials were happy to announce a productive agreement between the state and Rhode Island Recycled Metals corporation. Although the company will need to address hazardous waste on its
From: Oil Prices Impact Metal Recyclers By: Mike Breslin It’s about time U.S. businesses and consumers are getting a price break on something… oil and its cornucopia of derivatives. Most visible are gasoline pump prices falling in many areas in the $2 per gallon range (as of this writing). It’s all because worldwide crude oil
RECYCLING SCRAPPED AUTOMOBILES Recycling Steel and Iron Used In Automobiles Steel IS Automobile Safety We rely on our cars to transport us from place to place, perhaps even to take steel materials to a recycling drop-off center. We also rely on automobiles to keep us and our family safe when we’re behind the wheel.
NEW YORK Shares of steel companies fell Monday on investor concerns that industry conditions will worsen as steel prices fall and demand for the metal slows in a weakening economy. Demand for steel, a building block of industries from construction and manufacturing to energy, tracks conditions in the broader economy. With many countries in Europe