United Kingdom

The UK economy has been unexpectedly stagnant for a few months now, with GDP remaining flat. This has been a tough blow to the new government’s growth plans, especially with ongoing slowdowns in construction and manufacturing affecting trade. As the government gets ready to announce its first budget, businesses are hoping for some positive changes but there is a lot of scepticism and a general lack of confidence.

Merchants across the country have reported a steady summer, even though prices were lower than in the spring. Despite the gloomy economic outlook, materials have been moving but companies have had to tighten their margins because of shortages. Towards the end of September, LME prices bounced back to spring levels, giving merchants a little more confidence going forward.

LME Week 2024 was held recently in London. This significant event for the global metals community kicked off with the LME Metals Seminar on September 30, followed by the prestigious LME Dinner on October 1. Throughout the week, various organizations hosted events that provided valuable insights into current market trends, as well as forecasting and opportunities for networking.