2 September 2022 – The EU is unhappy about the South African government’s planned scrap export ban, even though the revised Waste Shipment Regulation includes its own ban – it all depends on the wording. Southeast Asian emerging markets on the upswing. And rising long steel prices in Turkey.
South Africa: Scrap export ban angers EU
The European Union, which has faced considerable criticism with the revision of its Waste Shipment Regulation and the associated scrap export ban to non-OECD member states inside and outside the EU, is raising concerns about the South African government’s planned scrap export ban.
EU: Export ban violates WTO rules
According to South African media reports, the EU, which is South Africa’s most important trading partner, has drawn the attention of the South African government to the fact that the scrap export ban could violate WTO rules.
EU: Raw materials yes, products no
If this objection of the EU is officially confirmed, it is again a more than clear indication of how the European Commission is proceeding. On the one hand, imposing trade restrictions on imports of undesirable products and imposing nicely worded export restrictions on its own strategic raw materials (e.g. ferrous and non-ferrous scrap metal). And on the other hand, to demand unrestricted access to raw materials for their own industry. The best example is the dispute between the EU and Indonesia over the export ban on Indonesian nickel.
Southeast Asia on the upswing
Deutsche Bank reports that the industrial sector in Southeast Asian emerging markets is currently performing well. In Indonesia, Thailand and the Philippines, the purchasing managers’ index for the manufacturing sector rose in August. With a value between 51.2 and 53.7 points, the important barometer of sentiment signals growth.
Thailand reached all-time high
In Thailand, the manufacturing sub-index even reached an all-time high. The upswing is mainly driven by strong domestic demand, as many Asian countries still have some catching up to do in terms of consumption and investment after the recent coronavirus wave subsided.
Rising long steel prices in Turkey
According to market sources, prices for long steel products in Turkey are rising. Here, too, rising energy costs are cited as the reason. There are also reports from the United States that prices for HRC and HDG are increasing.
Latest news
- Strong increase in demand for HRC
- European stainless steel mills shut down
- EU steel producers raise prices broadly
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