Schnitzer Steel (SCHN -2.6%) misses 3Q estimates as profits fell 18% YoY, hurt by lower margins...

|About: Schnitzer Steel Industries,... (SCHN)|By:, SA News Editor

Schnitzer Steel (SCHN -2.6%) misses 3Q estimates as profits fell 18% YoY, hurt by lower margins and a higher tax rate. On a postitive note, revenues significantly improved as the scrap metal recycler continues to benefit from strong demand in South Korea, China and Turkey.