BIR Non-Ferrous Metals World Mirror Anticipates Tight Recycled Metal Market

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) noted that the increased flow of materials into yard following the recent price spike on the London Metal Exchange (LME) proved to be short-lived, according to reports submitted to it from regions across the globe.

The material volumes in the UK are not higher than, when matched with those before the LME price surge. In Benelux too, the additional flows happened to be short-lived, with recyclable material availability continuing to remain tight. The competition for materials are seen at high levels in Nordic countries as well.

According to BIR, the Chinese copper scrap imports totalled 557,162 tonnes in the first quarter of 2024, significantly higher by 15.8% over the prior year quarter. The copper scrap generation remained low in Japan. Aluminum demand, especially for mixed grades, witnessed robust recovery in the UK.

The Eastern Europe region has been witnessing notable decline in scrap sales. The export sales to Asian destinations remained weak. The Ukraine war has elevated transportation issues in the region, with long queue of trucks still evident at the border.

Mexico’s imposition of import tariffs on primary aluminum and aluminum billet has badly impacted the whole industry.

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