Europe’s economy is showing signs of gaining momentum, with recent strong purchasing managers’ indices indicating growth. In addition, Israel is considering implementing restrictions on the export of iron and steel scrap to address the shortage in the country.
The eurozone economy saw an unexpected rise in the Purchasing Managers’ Index in April, reaching its highest level in eleven months at 51.4 points. Germany, in particular, experienced strong growth in the service sector at 53.3 points and an improvement in the manufacturing sector.
Israel has been facing challenges due to a shortage of iron and steel scrap, prompting discussions around implementing export restrictions. A new draft law has been proposed to introduce export licenses and quantitative quotas to address the scarcity in the country.
The trend of banning or imposing restrictions on scrap exports has been observed in various countries, including the European Union. The EU is also considering implementing an export ban to support domestic steel producers, while emphasizing environmental responsibility.
The Gerber Group has been a global player in the stainless steel trade for over 20 years, specializing in purchasing, import, logistics, and services. While the information provided is based on expertise and research, it is important to make informed decisions and not solely rely on external news sources.