Steel recycling industry hurt by surging Chinese exports: EuRIC

BRUSSELS (Scrap Monster): According to European Recycling Industries’ Confederation (EuRIC), the surge in steel products export from China has caused considerable harm to the European steel recycling industry. Emmanuel Katrakis, secretary general of EuRIC noted that rock bottom price levels of scrap have led to closure of operations of several scrap companies in the region.

EuRIC has extended support to the stand taken by several European industry associations that China should not be granted Market Economy Status (MES). Incidentally, wider debates are happening around the world whether China should be granted the status on the occasion of the nation completing its fifteenth year of its accession to the WTO in December this year.

Earlier during December last year, nine steel associations had declared a unified position against granting of MES to China. The nine associations that took a common stand include the American Iron and Steel Institute, the Steel Manufacturers Association, the Canadian Steel Producers Association, CANACERO (the Mexican steel association), Alacero (the Latin American steel association), EUROFER (the European steel association), Instituto AcoBrasil (the Brazil Steel Institute), the Turkish Steel Producers Association and the Committee on Pipe and Tube Imports.

According to EuRIC, granting of MES would hamper the ability of the EU region to take effective remedial action against dumped or subsidized products import. Further, it would prevent EU’s transition from linear to circular economy and also lead to more job losses in the region.

The European Recycling Industries’ Confederation is the umbrella organisation for European Recycling Industries. EuRIC acts as the trusted interface between the industry and the European Union and serve as a platform for information, cooperation and exchange of best practices on all European recycling matters.