Europe’s Economy on the Rise as Purchasing Managers’ Indices Soar, While Israel Weighs Export Restrictions on Scrap
Europe’s economy is experiencing growth as indicated by the recent strong Purchasing Managers’ Indices. The Eurozone saw a significant increase, with Germany’s service sector performing particularly well. The Purchasing Managers’ Index in April rose unexpectedly to its highest level in eleven months, pointing towards a growth in economic output.
In Israel, discussions are underway to introduce restrictions on the export of iron and steel scrap due to a shortage in the country. A draft law has been proposed that would require export licenses for scrap and implement quantitative quotas to address the scarcity.
Export bans on scrap are becoming more common globally, with several countries implementing restrictions to address shortages. The European Union is also considering an export ban 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, providing 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 inquiries please contact us.
