Greenwave's Margins Expand as Scrap Metal Prices Surge Ahead of Steel and Aluminum Import Tariffs Taking Effect March 12, 2025
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Greenwave Technology Solutions, Inc. (GWAV) is experiencing significant margin expansion due to a surge in scrap steel prices, which have increased by over 20% in the past month. This is in anticipation of new tariffs on steel and aluminum imports taking effect on March 12, 2025. Greenwave supplies domestically-sourced scrap metal to major companies like Nucor, Sims, Cleveland-Cliffs, and Georgia-Pacific. The upcoming tariffs on copper imports are also expected to boost Greenwave's revenue growth and margin expansion.
March 10, 2025 | 8:45 am
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Greenwave Technology Solutions, Inc. is benefiting from a 20% surge in scrap steel prices, driven by impending tariffs on steel and aluminum imports. This is leading to significant margin expansion and expected revenue growth.
Greenwave's business model relies on providing domestically-sourced scrap metal, which is in high demand due to upcoming tariffs on foreign steel and aluminum. The 20% increase in scrap steel prices directly benefits Greenwave's margins and revenue, making the news highly relevant and important for investors.
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