Spread Between U.S. Steel Prices and Marginal Cost Set to Contract After Volatile 1Q for Steelmakers
The March 1 announcement of a 25% tariff on steel imports has shaken up the U.S. steel industry, serving as a boon for U.S. producers. Every operator in the U.S. steel supply chain under our coverage saw its stock price rise when the tariff program was announced. Subsequently, however, the exclusion of certain key trade partners and the extension of negotiating deadlines related to those exclusions have moderated exuberance about how much upside the tariffs will provide. In the near term, the ta...Schnitzer Steel Industries is engaged as a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The company has two segments: Auto and Metals Recycling, which acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers, and procures salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores; and Cascade Steel and Scrap, which produces a range of finished steel long products using ferrous recycled scrap metal and other raw materials.
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