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(AMM) Steel's strength brightens view for Metalico's shares

March 12, 2010 - 18:10 GMT Location: PITTSBURGH

KEYWORDS: Metallico , recycling , ferrous scrap , fabrication

A strengthening in steelmaking run rates will bode well for scrap metal recycler Metalico Inc. despite weakness in its lead fabrication segment.

The improved outlook, issued by Canaccord Adams Inc., resulted from the company beating analysts' forecasted revenue estimate, coupled with the recycler's optimistic outlook for the second quarter.

Strong ferrous demand prompted Canaccord to maintain its "buy" rating on the recycler while dramatically...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous

Feb 10, 2012 16:05 Empire Recycling expansion given ‘go’
Feb 10, 2012 15:53 UK ferrous scrap prices drop £10 per tonne in February after mills reassess market
Feb 10, 2012 15:35 Turkish mini-mills lower domestic billet prices by $20 on lower scrap costs
Feb 10, 2012 14:38 UK 18/8 stainless steel scrap solids prices increase on fluctuating Ni, increased demand
Feb 10, 2012 13:30 DAILY SCRAP REPORT: Prices not likely to increase in near term, merchants say

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