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German steel recyclers see growth in investments

Germany – Germany’s steel recycling industry is still facing major problems, but at the same time there is growing optimism.

Steel recyclers expect this year’s investments in new machinery and technology to grow by 7.7% when compared to 2013 – a year in which spending in these areas fell almost 10% below 2012 levels, the confederation of German steel recyclers BDSV confirmed during its recent annual meeting in Berchtesgaden.

‘This is a sign things are slowly getting better,’ commented BDSV president Heiner Gröger. ‘Because of the crisis, over recent years recyclers had put a hold on investments. Obviously, the money saved during this period will now be spent in order to stay more competitive and more innovative.’

But Gröger also warned against excessive optimism as the industry continues to face major concerns. In 2013, German steel recycling companies saw their turnover fall by Euro 2.5 billion or almost 13% from Euro 19.6 billion to Euro 17.1 billion. In comparison to 2011 when turnover amounted to Euro 21.5 billion, the decline is Euro 4.4 billion or 20%.

According to BDSV, which represents some 550 steel recycling companies, another source of great concern among recyclers is ever-growing energy costs. At least 62% of companies believe these costs are no longer affordable.

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