Schnitzer Steel Industries (NASDAQ:SCHN) is one of the nation's largest recyclers of scrap metal recycling more than 5.1 million ton of ferrous metal for new steel production and 629 million pounds of nonferrous metals for aluminum, copper, stainless steel, lead and zinc production. The company has a supply network of more than 100 facilities in the US and western Canada and 7 company-owned deep-water ports in both coasts of the US.
The scrap metal business can be separated in three sub-industries, collecting the scrap, processing it and exporting it. Scrap collection is a highly fragmented business and is done by thousands of small independent scrap yard across the US and Canada. Schnitzer takes part in this...
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