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Schnitzer Steel anticipates net loss and material impairment charge in final quarter

Net earnings in third financial quarter tumbled 93 per cent to $1m

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(USA) – US scrap metals recycler Schnitzer Steel Industries, Inc. expects to post a net loss on both a reported and adjusted basis for the final quarter of its financial year ended 31 August, the concern said in its quarterly outlook last week. The company anticipates recording “a material non-cash impairment ...

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