Unfavourable conditions prevail in the recycled steel market, with hopes for improvement resting on the last quarter of the year, says Bureau of International Recycling (BIR) Ferrous Division president Denis Reuter.

Positives could come from effective economic stimulus measures in China, a confident economic policy from the Turkish government and an end to the cycle of interest rate hikes by large central banks, Reuter notes in BIR’s latest Ferrous Mirror.

“A mild winter and tax incentives prevented an energy crisis in Europe; the Chinese economy has been recovering more slowly and hesitantly than hoped; a banking crisis in the USA and Switzerland did not escalate, as feared, into a global financial crisis; and there has been an unprecedented tightening of monetary policy by central banks and a gradual decline in inflation,” Reuter says of the first half-year.

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