The Eurozone’s economy is showing signs of growth, as indicated by the recent strong Purchasing Managers’ Indices. Germany’s service sector performed particularly well, with the Purchasing Managers’ Index in April rising unexpectedly to its highest level in eleven months. This points towards a growth in economic output.
In response to a shortage of iron and steel scrap in Israel, discussions are underway to introduce restrictions on its export. A draft law has been proposed to require export licenses for scrap and implement quantitative quotas to address the scarcity in the country. Export bans on scrap are becoming more common globally, with several countries implementing restrictions to address shortages. The European Union is also considering an export ban as part of its Waste Shipment Regulation, in response to calls from domestic steel producers.
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