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Schnitzer: ‘softer demand’ and ‘reduced flows’

United States – Releasing its market outlook for the first quarter of fiscal 2013, Schnitzer Steel Industries, Inc. of the USA says it expects ferrous average net selling prices to decline approximately 5% from the fourth quarter of fiscal 2012.

‘€˜Ferrous sales volumes are expected to decline approximately 20% due to softer demand resulting from the economic uncertainty, reduced flows of raw materials and timing of shipments,’€™ it states. ‘€˜Non-ferrous average selling prices are expected to increase approximately 5% while volumes are expected to decline approximately 30% from the fourth quarter.’€™

The company goes on to note that operating income per ferrous ton is expected to be US$ 4 – or approximately 60% lower than the fourth quarter of fiscal 2012 ‘€˜due to the declining trend in selling prices, the impact of constrained supply volumes on production costs and the timing of shipments’€™.

For more information, visit: www.schnitzersteel.com

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