10,247.75 TRY BIST 100 BIST 100
4.49 CNY CNY CNY
34.60 EUR EUR EUR
32.24 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
359.00 TRY Interest Interest
83.90 USD Fossil Oil Fossil Oil
27.61 USD Silver Silver
4.55 USD Copper Copper
114.61 USD Iron Ore Iron Ore
384.00 USD Ship Dismantling Ship Dismantling
2,406.63 TRY Gold (gr) Gold (gr)

Europe's scrap exports could be limited under green transformation targets

At a recent conference organized in conjunction with the International Rebar Exporters and Producers Association (IREPAS), it was suggested that exports of European scrap should be restricted.

Europe's scrap exports could be limited under green transformation targets

The concept that formed the main target of the discussion was that, with a focus on recycling, scrap would be recycled and used in steel production instead of production from scratch, and that green steel would be produced with this and similar ecological methods. Based on this, there was a discussion on the fact that Europe will increase its scrap demand in line with these targets in the next 5 years, that the existing scrap capacities will only be sufficient for Europe, and that exports of scrap should be restricted, as scrap exports could imbalance the demand here.

Regarding the possible consequences of the European Parliament's recent revision of the Waste Shipment Regulation, Björkman said that scrap shipments to non-OECD countries will be a major challenge. Luckily, Turkey, an important destination for steel scrap exported from the EU, will not be affected, he added.

In addition, trade tensions were also on the mind of Murat Cebecioğlu of Turkey-based İÇDAŞ Steel, who is the general chairman of IREPAS and its producers' committee. Trade barriers have made it difficult to sell steel to the US, Canada and the EU, he said, and "it is impossible to sell to Singapore and Hong Kong".

He also said that Turkish steelmakers are losing markets in countries they used to export to, such as Egypt, the Gulf Cooperation Council (GCC) countries and Indonesia, as these regions have become exporters themselves.

Regarding the expected demand for steel in southern Turkey following the devastating earthquakes that struck southern Turkey in February, Cebecioğlu said that natural disasters will create demand for the steel sector, but the demand will be spread out over years, adding that "it will not come all at once."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Emirates Steel Arkan showcases resilience in first-quarter performance amid global challenges

Thursday, May 9, 2024

Taiwan's stainless steel imports fall in April

Thursday, May 9, 2024

Russian coke shipments to India doubled in April

Thursday, May 9, 2024

Weekly outlook of the European steel market

Thursday, May 9, 2024

Bolat denies the claim that "restrictions on Israel have been removed"

Thursday, May 9, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now