China and others not so hungry now? Hmmm. Green sh*t? http://www.bloomberg.com/apps/news?pid=20601087&sid=auqLj5L.kC_c â¢Schnitzer Steel Falls Most in Three Months as Price Decline Leads to Loss Schnitzer Falls Most in Three Months After Posting Net Loss Share | Email | Print | A A A By Allison Bennett June 30 (Bloomberg) -- Schnitzer Steel Industries Inc., the century-old scrap-metal recycler, fell the most in three months after reporting a third-quarter loss as metal prices declined. Schnitzer dropped $6.10, or 10 percent, to $54.11 at 10:59 a.m. in Nasdaq Stock Market composite trading. Earlier shares fell 11 percent, the biggest intraday decline since March 30. The Portland, Oregon-based companyâs shares have declined 53 percent in the past 12 months. Schnitzer posted a net loss of $1.53 million, or 5 cents a share, for the quarter ended May 31, which compared with net income of $61.7 million, or $2.14, a year earlier. Sales declined 58 percent to $411.8 million. The average of four analystsâ estimates compiled by Bloomberg was for profit of 16 cents a share. Schnitzer sales fell in all three divisions amid a global recession that has sapped demand for cars and appliances. Revenue at the metals-recycling division, Schnitzerâs largest unit, declined 61 percent on lower prices and volumes. To contact the reporter on this story: Allison Bennett at abennett21@bloomberg.net Last Updated: June 30, 2009 11:06 EDT