Europe’s Economic Growth and Global Scrap Export Restrictions: What You Need to Know

The European economy is showing signs of growth, as indicated by the recent strong Purchasing Managers’ Indices. Germany’s service sector performed particularly well, with the Eurozone seeing a significant increase in economic output. The Purchasing Managers’ Index in April unexpectedly rose to its highest level in eleven months, indicating an increase in economic output.

Meanwhile, discussions are underway to introduce restrictions on the export of iron and steel scrap in Israel. A draft law has been proposed to require export licenses for scrap and implement quantitative quotas to address the scarcity in the country. This move is becoming more common globally, as several countries have introduced similar restrictions to address shortages.

The European Union is also considering an export ban on scrap as part of its Waste Shipment Regulation, in response to calls from domestic steel producers. At Gerber Group, we have been involved in stainless steel trading for over two decades and provide expertise in purchasing, imports, logistics and services. We prioritize providing accurate and timely information to enable informed decision-making. It is important to note that our content may include opinions and information from various sources and should not be the sole basis of business decisions. For more information please contact us.