{"id":823331,"date":"2025-03-10T04:36:57","date_gmt":"2025-03-10T08:36:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwaves-margins-expand-as-scrap-metal-prices-surge-ahead-of-steel-and-aluminum-import-tariffs-taking-effect-march-12-2025\/"},"modified":"2025-03-10T04:36:57","modified_gmt":"2025-03-10T08:36:57","slug":"greenwaves-margins-expand-as-scrap-metal-prices-surge-ahead-of-steel-and-aluminum-import-tariffs-taking-effect-march-12-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwaves-margins-expand-as-scrap-metal-prices-surge-ahead-of-steel-and-aluminum-import-tariffs-taking-effect-march-12-2025\/","title":{"rendered":"Greenwave’s Margins Expand as Scrap Metal Prices Surge Ahead of Steel and Aluminum Import Tariffs Taking Effect March 12, 2025"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Tariffs Taking Effect on all Foreign Steel and Aluminum Imports Without Exception or Exclusion <\/u><\/b><\/i>\n <\/p>\n

\n Greenwave Provides 100% Domestically-Sourced Scrap Metal to Nucor, Sims<\/span>, Cleveland-Cliffs, and Georgia<\/span>-Pacific<\/i>\n <\/p>\n

\n Prices for Scrap Steel have Surged More than 20% the Past Month and are Expected to Go Higher<\/span><\/i>\n <\/p>\n

\n Upcoming Tariffs on Copper Imports Expected to Further Accelerate Greenwave’s Revenue Growth and Margin Expansion<\/i>\n <\/p>\n

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\n CHESAPEAKE, Va.<\/span>
\n <\/span>, March 10, 2025<\/span><\/span> \/PRNewswire\/ — Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) (“Greenwave” or the “Company”), today announced that its margins have expanded significantly due to surging prices for scrap steel \u2013\u00a0 already up 20% since early February and expected to go higher \u2013 ahead of steel and aluminum import tariffs taking effect on March 12, 2025<\/span>.<\/p>\n

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\n \"Through
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Prices for Scrap Steel have Surged More than 20% the Past Month and are Expected to Go Higher<\/span><\/div>\n

Greenwave operates 13 metal recycling facilities in Virginia<\/span>, North Carolina<\/span>, and Ohio<\/span>, providing 100% domestically-sourced scrap metal to Nucor, Sims<\/span>, Cleveland-Cliffs, Georgia<\/span>-Pacific, alongst other industry titans.<\/p>\n

Unlike country-specific tariffs which are often modified, metal import tariffs significantly strengthen America’s national security and are expected to remain in effect for the foreseeable future.<\/p>\n

\n Fortress of Licenses: A Competitive Moat<\/b>\n <\/p>\n

Greenwave\u00a0holds a portfolio of highly coveted operational licenses for the Company’s metal recycling facilities.\u00a0These licenses, often protected by grandfathered municipal codes, provide significant barriers to entry to competitors in Greenwave’s tightly regulated markets.<\/p>\n

\n Key highlights include:<\/i>\n <\/p>\n