The French concern Derichebourg has benefited from the rise in steel scrap prices. The company's recycling and environmental activities generated sales of around €1.061bn in the first half of its fiscal year, an increase of 12 per cent compared to the same period last year. Consolidated net income for the period from October 2017 to March 2018 improved by 25 per cent to €37.7m, the company reported in Paris on Tuesday.
Derichebourg considers the outlook for its current second financial half positive. Demand for scrap from the steel industry remains firm, and scrap prices have been moving within a narrow range for some months. In the non-ferrous scrap segment, the closure of China's borders to imports of "inadequately sorted products" had made only a minor impact on the group's volumes, Derichebourg reported.