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Schnitzer Steel Records Loss, Expands Buyback

 

Portland, Ore. -- Schnitzer Steel (SCHN Quote) on Thursday reported a fiscal first-quarter loss due to a drop in demand for recycled metals and finished steel products.

The Portland, Ore.-based company posted a loss of $34 million, or $1.21 per share, compared with a profit of $24.7 million, or 85 cents per share, in the year-ago period.

Analysts surveyed by Thomson Reuters expected a loss of 75 cents per share. ...

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