Operates in three segments: Metals Recycling Business, collects, processes and recycles metals; Auto Parts Business, self-service used auto parts network; and Steel Manufacturing Business, processes recycled metals into finished steel products.
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Bought this one based on TMFSinchurias blog about their earnings. Got a relative who does oilwell drilling consulting work. He told me that the price of steel is rising so rapidly that it has caused companies to change how they approach completing a hole. In the past, they would do detailed analysis about the size of casing needed for example 2000 feet 8 inch 1500 feet 10 inch etc. etc. to maximize the expected production of the well. Now with the price of steel so high and going higher they ask for whatever is available at today's price. They don't want to wait for new pipe to be produced for fear that it will be more expensive and may delay the completion of the hole. I believe steel goes higher from here and with it SCHN.