Europe’s economy is showing signs of gaining momentum, as indicated by the recent strong Purchasing Managers’ Indices. The Eurozone saw a significant increase, with Germany’s service sector performing particularly well. The Purchasing Managers’ Index in April rose unexpectedly to its highest level in eleven months, pointing towards a growth in economic output.
Meanwhile, discussions are underway to introduce restrictions on the export of iron and steel scrap in Israel. 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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