Volatile Prices and Sluggish Demand Weigh on Global Non-Ferrous Scrap Markets
In North America, mills are reducing inventories ahead of year-end, and 2026 supply negotiations are progressing slowly.
SEATTLE (Scrap Monster): The latest BIR World Mirror on Non-Ferrous Metals reports mounting difficulties for recyclers as volatile prices, uncertain demand and the LME copper backwardation squeeze cash flow and delay payments. Europe’s market is slowing, whereas Nordic reports note that sales became challenging in early November.
Scrap availability across Europe remains limited, intensifying competition and narrowing margins. UK merchants describe 2025 as broadly flat, noting that even with strong aluminium prices, secondary grades continue to show a disconnect between market values and what buyers will pay. In Eastern Europe, Poland’s reopening of two border crossings with Belarus has eased transport bottlenecks.
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In North America, mills are reducing inventories ahead of year-end, and 2026 supply negotiations are progressing slowly. Fires at Novelis’ Oswego mill have disrupted the aluminium supply chain. Mexico continues sending high-grade scrap to the US, though potential export restrictions and security concerns are affecting local flows.
Canada reports weak demand and unusually low inbound volumes. In Asia, India faces a 20–25% drop in brass demand and slower ADC-12 exports. Japan’s scrap generation is hindered by labour shortages, while Malaysia sees increased container checks causing delays. China has set a reduced non-ferrous output growth target of 1.5% for 2025/26.