Schnitzer’s Best Half-Year Results Backed by Strong FYQ2

Schnitzer Steel Industries Inc. posted its best first half results in company history following a strong second quarter earnings. The result comes thanks to high prices and strong demand for both ferrous and nonferrous scrap.

scrap The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $38 million in the second quarter of fiscal 2022. Net earnings for the six months ended Feb. 28, 2022, were $85 million, besting the same year-ago period by more than 39%.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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