KN37012

KEY NOTE METAL RECYCLING : Sepatember 2002

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This report covers: metal recycling, ferrous scrap, non-ferrous scrap, precious metals scrap, lead, aluminium, iron, steel, copper, tin, zinc, nickel

Companies covered include: ASW Holdings,Corus UK, European Metal Recycling, London & Scandanavian Metallurgical Company, Mountstar Metal corporation, SimsMetal UK Holdings, Alcoa Incorporated, Alcan Inc., IMCO Recycling, Hydro Alumionium, Johnson Matthey, Norton Aluminium,

EXECUTIVE SUMMARY

The UK metal recycling market, as defined in this report, covers both ferrous (i.e. iron and steel) and non-ferrous metals. The latter category specifically focuses on secondary (or scrap) aluminium, nickel, zinc, copper, lead and tin, and to a lesser degree on the precious metals such as gold, silver, platinum and palladium. The total market was estimated to be worth £1.68bn in 2001, and (excluding precious metals) weighed an estimated 6.34 billion tonnes.

The period from 1997 to 2001 saw a drop in overall volumes, but most of this was attributed to the recycled ferrous sector, in which the key home markets were subdued while the global steel industry was going through a period of restructuring. The non-ferrous sector as a whole proved more resilient, although performances between individual segments varied, and aluminium increased its share.

The ferrous sector accounts for by far the largest proportion by volume of recycled metals, but the value per tonne is much lower and prices have fallen over the past few years. The value of individual non-ferrous metals ranged from £290 per tonne for lead to £3,800 per tonne for nickel in 2001. However, market values for recycled metals can change significantly. They are subject not only to the market forces of supply and demand, but equally to the performances of economies in Europe, the Far East and the US, and, in this respect, operate on a world stage.

The metals industry - and the steel industry in particular - has experienced a degree of consolidation over the past few years, which has had a knock-on effect for scrap metal processors. The trend has been for recyclers to switch to commercial processing, and focus on providing a steady supply of value-added products down the chain, which enables them to operate on a larger scale. In the light of falling demand for UK ferrous material, many recyclers now operate on an international scale.

Metal recycling brings with it major economic and environmental benefits, offering a cheaper alternative to primary metals. A number of key pieces of environmental legislation are currently having an impact on the sector, with the prospect of major investment for the industry. The End-of-Life Vehicles (ELVs) Directive and the Waste Electrical and Electronic Equipment (WEEE) Directive provide enhanced opportunities for the recovery of materials - for example, copper from computers - with future restrictions on hazardous materials, including lead. Packaging recycling is also set to increase, largely as a result of recovery targets.

Key Note forecasts that the volume of metals recycled will rise slowly between 2002 and 2006, led by the non-ferrous sector, although growth rates between the various metals will vary. The value of the recycled precious metals market is forecast to show slow but steady growth over the same period

TABLE OF CONTENTS

Text © 2002 Key Note

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