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$100m profit from scrap metal's year of swings and roundabouts

By Greg PitcherSims Group this week announced it broke the $100 million profit barrier in the year ending June 2004 highlighting the potential benefits of the recent volatile scrap metal prices.The global metal recycler made $112.5m last year, 50% more than in the previous 12 months, boosted by a sales revenue up 19% to $1.87 billion.Recycled metal prices have oscillated wildly since Christmas, with demand from the Far East surging, then abruptly stopping, ...