BDSV Foresees Substantial Downturn in Steel Recycling Sector

The weakening national economy is feared to make things worse for the sector.

SEATTLE (Scrap Monster): The recent survey conducted among its members by the German steel recyclers’ association, BDSV, indicates that approximately two-thirds anticipate further decline in business in 2020. The slowdown in automotive industry and decline in new mechanical engineering orders are cited as the key triggers for the projected business slowdown. The weakening national economy is feared to make things worse for the sector.

According to BDSV, uncertainties surrounding Brexit and the ongoing trade dispute between China and the U.S. will likely impact the country’s future economic growth in the near term. The decelerating industrial production has impacted the steel recycling industry in Germany. The higher compliance costs on account of tighter environmental regulations will make the domestic industry uncompetitive, when compared with industries across the world, BDSV noted.

ALSO READ: Scrap Traders Declare Launch of New Global Metal Trading Platform

The proposed laws have no provisions for rewarding CO₂ savings by steel recycling industry. BDSV called upon authorities for necessary political intervention in order to incentivize industries for their contributions to climate protection. It noted that steel recycling industry has been contributing significantly to the reduction of steelmaking emissions since long time. The government should implement measures to promote CO₂-saving steel recycling sector instead of hindering it, the association members said.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index