The current European competition over domestic steel scrap exports is expected to continue in 2024. The European Union is planning to make significant changes to export rules in early 2024. According to sources, the changes include new obligations for exports of secondary raw materials, which are expected to gain momentum in the coming years as European producers are concerned about weak demand.
European steel and aluminum producers are also expected to shift demand for secondary raw materials by focusing on low-carbon emission production. The EU categorizes recycled steel, copper and aluminum as waste, and while the EU's Waste Shipment Regulation (EUWSR) does not completely ban the export of scrap, recyclers are expected to face the impact of increased regulations, according to sources.
According to sources, around 20% of the EU's steel scrap is exported.
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