United Kingdom

Over the past two months, UK non-ferrous merchants have benefited from the strong prices seen across most metals, particularly copper and aluminium. The higher values have supported trading activity, improved margins and encouraged good scrap flows. However, prices have started to soften in recent weeks. As geopolitical tensions in the Middle East have eased and shipping through the Strait of Hormuz has returned towards normal, some of the risk premium has come out of the market. While prices remain at healthy levels, many UK merchants are now watching developments closely as the market appears to be entering a period of correction following the strong upward trend seen earlier this year.

A continuing topic of discussion within the UK is the balance between supplying domestic manufacturers and maintaining access to export markets. While there is increasing interest in retaining more recycled metal within the UK to support future industrial growth, the domestic market is still unable to absorb all available material at present. As a result, export markets remain essential for UK recyclers, providing competitive outlets for surplus material while supporting investment, competition and healthy trading across the sector.

Meanwhile, the UK recycling industry is preparing for the introduction of mandatory digital waste transfer notes, which are expected to be introduced in October. Merchants are reviewing and adapting their systems ahead of implementation, with the move expected to improve traceability, reduce paperwork and modernise waste documentation across the industry.