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Studio Guest: Christine Schweikert, commodities expert | Made in Germany
Posted
July 7, 2011
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July 7, 2011
1,213
10
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0.91%
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2:43Now PlayingOur studio guest is Christine Schweikert, commodities expert, BHF Bank, Frankfurt
DW:TV: Iron ore is the main source for steel production in Germany - how much is still left?
Christine Schweikert: Well, at the moment we're thinking it might last us for 50 years globally speaking, but that's not set in stone. If we use less, obviously it's going to last us longer and if we find more then it's going to last longer too
DW-TV: How can recycling be increased?Christine Schweikert: You need different regulations for instance, like you have to force people to give back their mobiles or cars and then force companies to recycle it and sell it on again. That's one thing, but I think the main thing, is if the price is attractive enough, and if the material is scarce enough, then I think companies will do it.
DW-TV: Is recyclability something that the steel industry considers during production?Christine Schweikert: I dont think so, in fact people who do recycle the material use x-rays to determine the nickel content of steel, for instance. And I think recycling should be increased. In Germany, we are recyling about 50% and in the US the figure is higher, 64%, or something like that, and I think a lot more can be done to improve recycling.DW-TV: How much speculation is going on?Christine Schweikert: Well, commodity prices are influcenced to a certain extent by speculation, but for iron ore I would say that's a very small extent because it's mostly longterm contacts between buyers and sellers and it's nothing that financual investors specualte on to any large extent.
DW-TV: Can you think of possible alternatives to using ore and other resources?Christine Schweikert: It's very difficult to replace and especially to the amount that steel is being used in building. I dont see aynthing that could replace it at the moment. I think it will be very important to recycle and use what we already have.
DW-TV: Let me ask you a question on silver as this is one of the things we will be looking into later today. How do you think silver prices are likely to develop?Christine Schweikert: I think they might come down a bit, they might fall a bit because to a huge extent, speculation has pushed the silver price up. People are not trusting in paper money and are going into silver instead. And silver is a very small market, very volitile. I think at the moment, the trend is down.Interview: Sabrina El Ahl
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