United Kingdom

As we approach the festive season and year-end, material availability has noticeably declined. Yards are reporting that business remains healthy and continues to progress steadily, despite the economy showing more signs of slowing down.

With uncertainty surrounding whether the US election would affect the market, it seems to have remained steady. Over the last month, currency fluctuations - and particularly a strengthening US dollar - have created an interesting trading environment and have affected copper in particular. Additionally, a rise in the aluminium market has led to increased demand for both secondary and primary grades.

The UK trade will see some environment-related developments going into the new year, with new permitting of sites and regulatory changes, especially for anything concerning persistent organic pollutants (POPs), cables and batteries. As well as some other changes, these will provide challenges for the trade going forward.

Although 2024 has been a generally steady year for our industry here in the UK, the world has been facing many difficulties and so hopefully 2025 will bring a more positive outlook.