Australasia

Sentiment remains closely aligned across the Australian and New Zealand non-ferrous recycling markets, reflecting the strong economic and trading links between the two countries.

In Australia, cost-of-living pressures, inflation and interest rate uncertainty continue to weigh on parts of the economy. Recent data suggest building approvals have softened while non-residential activity has been more resilient. This mixed construction picture is feeding into scrap generation, with some regions seeing reasonable demolition and infrastructure-related arisings while other areas remain quieter.

New Zealand appears to be in the early stages of economic recovery given the improvement in recent GDP data, but this progress remains uneven. Merchants are reporting a market in which consumers are still buying but remain selective. 

A notable development for the region is Reliance Worldwide Corporation’s announced closure of its brass casting, forging and machining operations in Moorabbin and Braeside, Victoria, along with some smaller sites. The company has pointed to a sustained reduction in Australian brass production volumes and a broader rationalisation of its global manufacturing footprint. For the recycling sector, this is significant because it reflects a further contraction in local brass manufacturing capacity and reinforces a wider theme: even where commodity prices are strong, domestic industrial demand is not guaranteed.