Schnitzer Steel sees larger-than-expected loss on weak exports

Schnitzer Steel Industries Inc. shares were halted in the extended session Monday just before the recycled metals products company forecast a larger-than-expected loss for the quarter. Schnitzer Steel shares were halted at $19.41 after hours and are expected to trade again at 5:55 p.m. Eastern. The company estimated an adjusted second-quarter loss of 25 cents to 27 cents a share on weaker export demand. Analysts surveyed by FactSet had forecast a loss of 11 cents a share.

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