Scrap export market has strength, says Schnitzer CEO
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Schnitzer Steel Chief Executive Officer Tamara Lundgren spoke Tuesday at the Reuters Mining and Steel Summit, confirming that scrap prices in the high "$300s to the low $400s" are for the most part, correct for US exports. The soar in pricing is largely due to increased export consumption, especially in China.
Schnitzer steel metal recycling business contributes 80 percent of the company's revenues, much of which comes from exports. Lundgren expects the second quarter to duplicate Schnitzer's on or near record export pace seen in Q1.
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