After record performance in the first nine months of its 2022 business year, Schnitzer Steel Industries ran into a number of headwinds in its fourth quarter. Performance was adversely impacted by declines in prices and demand for scrap metal as well as tighter supply and disruptions in the final three months of the financial year ended 31 August. Nevertheless, the US scrap metals recycler and steelmaker posted the second strongest year in its history with revenues up 26 per cent to $3.48bn, equivalent to about €3.53bn. However, net consolidated income was just slightly higher than in the year before, having risen $2m to reach $170m....
Schnitzer's second-best year ends with cooling market in Q4
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