After a very difficult 2022, the economic outlook for 2023 was seen as quite optimistic. On the global steel markets, the combination of the Chinese government’s announced departure from its zero-COVID policy and of its stimulus measures further boosted hopes of an improvement in the economy (...)

• China’s recycled steel usage down by 4.8%
• Turkey’s overseas recycling steel purchases fall 16.5%
• EU-27 still the world’s leading recycled steel exporter

• Softer prices for recycled metal expected in short to medium term
• Scarcity of UK yard infeed material
• More competitive containerized market in recent days.

• Low scrap collection activity over winter months
• Decreasing trend in Turkish Steel Index since mid-March
• Downward pressure on container freight rates

• Markets surpass dealer and mill expectations in first quarter
• Restocking and low inventories help fuel price increases
• Economic headwinds start to derail US and international markets

• March brings first recycled steel price drop since December
• Monthly exports remain below 600,000 tonnes
• 15 consecutive months of year-on-year decreases in Japanese steel production