Global demand, prices seen inching up: BIR

Feb 03, 2014 | 03:59 PM | Sean Davidson

Tags  scrap, BIR, Bureau of International Recycling, Christian Rubach, Tom Bird, Zain Nathani, European Ferrous Scrap and Recycling Association, ferrous scrap steel

NEW YORK — Ferrous scrap recyclers across the world expect demand and prices to recover gradually over the next few months, with elections in critical import countries expected to have a lasting impact on trade in 2014.

In a quarterly report on ferrous scrap markets released Jan. 30, divisional heads of the Brussels-based Bureau of International Recycling (BIR) expressed tentative optimism amid struggling emerging economies.

Christian Rubach, president of BIR’s ferrous division, said business sentiment is improving slightly in the "old economies" such as Europe and the United States.

Worldwide crude steel production is still supposed to grow by 2 to 3 percent, "which is good news too for our own industry," he said.....

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