Just when you thought the commodity correction was an unfortunate heap of crap, along came the miserly steelmakers with boosted profits from scrap.
On a Monday when the markets were in dire need of a pick-me-up, scrappy steelmaker Nucor
This is an exciting development that leads me to believe fellow steel producers with major inputs from scrap metal will benefit similarly from the favorable pricing environment. I'll certainly be watchful for another potential earnings surprise from Schnitzer Steel
The big advantage for scrappers here is that while most major steel companies -- such as POSCO
Conversely, these are certainly tough times for companies that specialize in selling scrap metal. From global megascrapper Sims Group