Schnitzer Steel (SCHN) shares rallied 7.1% in the last trading session to close at $46.08. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.5% gain over the past four weeks.
Optimism over strengthening ferrous and nonferrous markets is driving the stock higher. The company is benefiting from strong demand for finished steel products and recycled metals and the transition to its new One Schnitzer operating model that increases its efficiency and improves productivity.
Price and Consensus
Price Consensus Chart for Schnitzer Steel (Image not shown due to low ratings)
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