NEWS
Scrap & Recycling  

PSC 3Q profit flat amid higher scrap prices, volumes

Ohio-based recycler PSC Metals posted a $1mn profit in the third quarter, flat with the prior year despite higher average selling prices and ferrous scrap shipments.

Revenue for PSC, a subsidiary of Icahn Enterprises, grew by $10mn to $120mn in the third quarter from a year earlier, driven by domestic steel production boosted by trade cases and the tariff on imported steel.

Capital expenditures in the quarter increased to $8mn from $2mn in the same prior-year period.

PSC in the quarter purchased a shredder in Alton, Illinois, adding to its operations in the St Louis area. PSC primarily ships ferrous scrap in the Ohio Valley and southern US.

With profit flat in the quarter, PSC said it is "committed to improving buying practices" to boost margins.

PSC's profit over the first nine months of 2018 doubled to $8mn from a year earlier.

News No: 2543
Date: 2018/11/08 - 20:12
News Source: Argus Media

PSC 3Q  Metals Recycler  Icahn  scrap prices  Alton 

Comments:

Leave a Comment:

   
   
   
 

Indian Sponge Iron Exports Demand Bullish on Falling Imported Scrap Prices

Sponge iron exporters from eastern India reported weak demand due to significant fall in imported scrap offers to the Bangladesh.
 

Turkey: Ferrous Scrap Imports Fall 12% in Nov'18

US scrap exports drop 40% while that from Russia decline 61% M-o-M in Nov’18
 

India's Largest Pig Iron Manufacturer Further Cuts Price Upto INR 600/MT (USD 9)

Neelachal Ispat Nigam Ltd (NINL)- India’s largest and state owned steel grade pig iron manufacturer & exporter has further reduced pig iron prices by INR 500-600/MT (USD 7-9) after a slight reduction made in Nov'18 end by INR 400/MT (USD 6).
 

Turkey: Scrap Importers Book 3 Cargoes; Prices Inch Up

Scrap importers in Turkey booked 3 more bulk scrap cargoes in last couple of days.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners