Looking back, we can reflect on a very busy year. Between metal prices, energy costs and trade policy, it hasn’t been dull by any stretch. Even the morning coffee has gone from quiet luxury to an essential tool to keep us alert! (...)

• Modest economic growth limits broad recovery in scrap volumes
• Strong Cu and Al fundamentals support values while increasing capital requirements
• Energy and financing costs remain central to profitability

• Reciprocal tariffs affecting trade with USA
• Canada’s GDP growth close to zero
• Reduced material flows from manufacturing accounts and retail sector

• Beijing prioritising domestic non-ferrous recycling
• Annual recycled metal output mandated to surpass 20 million tons
• Continual adjustment of China’s strict customs policies

• India’s economy continues to show resilience despite some moderation
• Foreign exchange reserves hit record high in early September
• Secondary aluminium producers facing acute shortage of imported scrap

• Weaker peso improves export competitiveness amid subdued domestic demand
• Automotive and extrusion weakness weighing on scrap consumption
• Open scrap trade essential to collection, investment and regional supply chains

• More uncertainty owing to renewed disruption around Strait of Hormuz
• Increase in freight, fuel and insurance costs
• Consumers seeing value of securing metal recyclables locally

• Continuation of tough trading conditions for manufacturers
• Fuel prices add to inflationary pressure
• IDC tables Rand 3 billion offer for 80% stake in ArcelorMittal South Africa

• Malaysia continuing to repatriate previously-detained containers
• Authorities strengthening inspections at ports and other entry points
• Thailand expands investigations to importing and exporting companies

• Middle East conflict sparks diesel price surge
• Lack of clarity on aluminium tariffs
• Slow start to 2027 aluminium mill contract negotiations

• Metals stranded in transit hubs and storage facilities
• Air strikes prompt power distribution shift in Ukraine
• Ukraine’s zero-export quota claimed to be fuelling smuggling activity

• Copper market seeing financial pressures and cautious demand
• Weak demand and market uncertainty for aluminium
• Uncertainty over continuing access to key international markets

• September decline in both consumer and business confidence
• Household and business budgets saddled with rising tax burden
• Revitalising private investment essential to fostering growth

• Trading slows after busy post-summer resumption
• Competition for scrap becoming more aggressive
• Congestion at northern European gateways in September

• Sites must register on Digital Waste Tracking Service
• Carriers, brokers and dealers to be brought in from October 2027
• High LME prices boost collections and material flows