A recent report on the metal recycling market in the United Kingdom is now available. The report looks at the UK metal recycling market, which reached an estimated value of £2.41bn (US$3.9 billion) last year.
The volume of scrap metal consumed in 2008 stood at 5.6 million metric tons — 6.4 percent less than the 2007 estimates, which were at their highest level since 2001 at just over 6 million metric tons. The negative growth in 2008 spelled the end of the run of a rising period of recycled metal sales, and the start of the recession in UK manufacturing output. In value terms, scrap metal consumption declined by3 percent in 2008 from a 10-year high of £2.49bn (US$4.123 billion) in 2007.
Between 2004 and 2008, overall sales of scrap metal increased significantly, boosted by the high rise in the value of scrap metal during this period, particularly in 2005 and 2006.
The report is divided into the broad categories of ferrous and non-ferrous metals. The report also includes references to precious metals such as gold, silver, platinum and palladium.
While the metal recycling has traditionally been one of the most profitable sectors of the recycling industry in the UK, the recession in the UK and the global economic downturn in 2008 had a major effect on the UK and international metal recycling markets. Prices tumbled in2008, with contracts cancelled and steel, aluminum and other metal producers shutting down excess capacity. This was in stark contrast to the previous year’s buoyant conditions of high prices and demand for recycled metals.
The current recession in the UK is expected to have a continued negative impact on the metal recycling market well into this year, before gradually recovering as key export markets such as China begin to pick up.
Three general factors lying outside the economic cycle that will have a strong influence on the market in the future are: increased adoption of newer and sophisticated metal recycling equipment; further environmental pressures to encourage people to recycle more metal; and EU and UK legislative changes to reduce barriers to UK exports of recycled metal and impose tighter controls on the metal recycling industry. The author forecasts that the market will contract by 12.5 percent by volume in 2009, but will increase by an overall 24.6 percent from 4.9 million metric tons to 6.1 million metric tons between 2009 and 2013.
The report includes the following sections: An Executive Summary; Market Definitions ; Coverage of ferrous, nonferrous, precious, and specialty metals; Market trends; Economic trends; Market position; Overseas trade; Industry background; A look at key trade associations; Competitor Analysis; Strengths, weaknesses, opportunities and threats; Buying behavior; Current Issues; Global market; Forecasts; And company profiles.
More information on the report can be obtained by calling (718) 473 08 72.