The recycled metals market is seeing the first signs of improvement in months, thanks in part to more and more people becoming optimistic that the economy and the infrastructure changes being proposed by the new Trump administration will have a big impact on the metal markets.
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,769,000 net tons (NT) of steel in January 2017, including 2,285,000 NT of finished steel (up 2.6 percent and 5.9 percent, respectively, vs. December final data).
The global recycled metal market is gaining traction due to rapid urbanization and industrialization.
Schnitzer Steel Industries, Inc. shared preliminary results for its second quarter ended February 28, 2017. Schnitzer expects second quarter earnings per share from continuing operations to be in the range of $0.37 to $0.40 and adjusted earnings per share to be in the range of $0.34 to $0.37.
The Aluminum Association’s Trade Enforcement Working Group filed antidumping and countervailing duty petitions charging that unfairly traded imports of certain aluminum foil from the People’s Republic of China are causing material injury to the domestic industry.