Demand for recycled stainless steel remains “robust” across Europe despite economic challenges, a key figure has insisted.
Joost van Kleef, chairman of the Bureau of International Recycling’s Stainless Steel and Special Alloys Committee, said “some analysts” were predicting double-digit growth in the use of the material this year.
In his latest market update, the Dutch ferrous reprocessing chief said 2024 had started “stronger than expected”.
Historically low import levels and an uptick in demand had given cause for optimism on the continent, he said.
Despite production levels being affected by worker strikes, “overall mill demand for stainless scrap was robust during the first quarter” said Van Kleef.
However, availability of scrap “continued to be affected by ongoing weakness in industrial and manufacturing activities” he added.
“During the first two months of the year, the EU recorded an increase of more than 50 per cent in net imports of stainless scrap from third countries compared to the same period in 2023.”
While the European business climate is “gradually starting to improve”, a recovery in the stainless segment is “yet to come” he added.
