Steel Mills
April 3, 2020
Schnitzer Steel Notes Lower Scrap Pricing and Demand
Written by Sandy Williams
Schnitzer Steel Industries, a metals recycler and long products producer, posted revenue of $439 million for the second quarter of FY 2020. Net income was $4.5 million for the quarter, improving from a $7 million loss in Q1 but down significantly from income of $13 million in Q2 2019.
Autos and Metals Recycling achieved operating income of $19 million or $23 per ferrous ton, up from a $2 million loss in the first quarter.
