Metals recycler Sims Ltd issued an update on market conditions earlier this week, highlighting a number of challenges that it was continuing to experience across all its regions. The company, had noted at the release of its 2022/23 financial report in mid-August that scrap metal margins were squeezed due to strong competition for scrap in the face of subdued scrap inflow. With August management accounts now nearing completion and September trends emerging, "it is clear that weak market conditions have not abated," said Sims. The recycler also saw indications that the "previously resilient" US domestic market is weakening....
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