In the quarter ferrous and non-ferrous metals recycling contributed 95% of consolidated operating income on 68% of revenue. Demand on modern buyers of scrap has been on and off. Scrap supplies are tight and to our knowledge, no one in our industry is operating even close to capacity.We shipped 140000 gross tons in the quarter versus 145000 gross tons a year ago, a decrease of 3.5%. After a soft July, demand and pricing for August has rebounded significantly. PGM recycling margins continue to be impacted by competition and volatile prices. Molybdenum selling prices remain under pressure throughout the quarter, but were partly offset by strong quarter in sales. The Lead fabricating business continues to improve profitability and demand has improved. Sequential pounds sold were up by 16%, 12.3 million pounds with an average selling price of a $1.54 per pound. However, quarter to quarter volume sold was down 7%.
Metalico's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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