20 January 2025 – China has achieved its growth target of 5% for 2024. The Chinese leadership has already announced further measures to support the domestic market. Scrap export ban: Strong opposition to proposals from the EU steel and aluminium lobby. And movement on the freight market – easing in sight!
China achieves growth target
China’s economy grew by 5.4 per cent in the last quarter compared to the same quarter of the previous year, ensuring that Beijing achieved its growth target of five per cent for 2024. Stabilising the housing market, which once again slowed growth in 2024, will also be at the top of Beijing’s list of priorities in 2025. The Chinese leadership has already signalled additional debt-financed measures to support domestic consumption as well as government investment in infrastructure and key industries ahead of its most important annual meeting at the beginning of March.
Donald Trump and Xi Jinping talk on the phone
A phone call between President-elect Donald Trump and Chinese President Xi Jinping last Friday, which led to the reactivation of the previously deactivated social media platform TikTok, was also viewed positively by investors on the Asian stock exchanges on Monday and was also reflected in rising share prices.
Scrap export ban: Strong opposition to EU steel lobby proposals
After the European steel and aluminium lobby wrote to the European Commission in December 2024 calling for even stricter export restrictions on ferrous and non-ferrous scrap, the domestic recycling industry in particular is taking to the barricades.
Recycling associations take a stand against demands
The major recycling associations European Recycling Industries’ Confederation (EuRIC) and the Bureau of International Recycling (BIR) have now taken a clear stance against the demands of EUROFER and European Aluminium. And have urged less protectionism on the part of the European Union. Further restrictions on scrap exports would jeopardise the future of the recycling industry throughout the EU.
EuRIC had written: ‘Any calls by the European steel and aluminium industry to restrict scrap exports are completely unjustifiable and unacceptable, especially when the supply of recycled scrap has never been the reason behind any decreased activity of EU mills.’
Movement on the freight market – easing in sight
Freight rates, particularly from Asia, fell significantly once again last week, causing the situation to ease. The Containerised Freight Index fell by around 7% on Friday, and by more than 13% since the beginning of 2025.
Latest news
- CBAM: European SMEs need a new and fair level playing field
- EU sanctions against Russian aluminium more likely
- Stainless steel: China continues to strengthen domestic demand
We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
