Compared to many global business sectors, and specifically service, we are fortunate in the recycling industry to serve the manufacturing sector deemed essential. Although we may not be at 100% capacity, we are proudly contributing to the world economy through this pandemic.
We are now seeing improvements in the steel market, with China leading the way. For the first time since news broke of the pandemic, China has shown its first growth and has become the backbone of the scrap and steel industry. With the country’s increased demand for billets as well as ferrous and non-ferrous metals, this points to signs of recovery and growth. It is definitely encouraging to see more steel scrap demand and price increases worldwide.
The increased collaboration between all the recycling associations is proving there is power in our numbers. The pandemic has brought our industry closer together with increased communication among us all.
Please continue to stay safe.