10% turnover losses for German steel recyclers

Germany – Although Germany’s steel recycling industry is facing turnover losses of up to 10% for 2013, there is optimism about 2014, the confederation of German steel recyclers, BDSV, confirmed during its annual meeting in Berlin last week.

The majority of Germany’s steel recyclers want to ‘tick off’ the year 2013 as soon as possible, according to a survey conducted among BDSV member companies. Compared to 2012, steel recycling operations expect a turnover loss of 10% while volumes have declined by 5%, it says.

At least 21% of respondents expect business to run better in the coming year, BDSV confirms. But according to its president Heiner Gröger, recovery activity is being discouraged by the ongoing economic crisis in the Eurozone, environmental restrictions, and tightened recycling and collection laws in Germany. Indeed, he called on the German government to revise these laws.

BDSV represents 550 steel recycling companies which produced Euro 19.6 billion worth of steel scrap last year.