Nick Rose of Tandom Metallurgical Ltd. identifies âa total lack of confidence in the UKâ, driven by âfears of another global slumpâ. According to Rose, this leaves the domestic metal industry still struggling. Prices are not only down, they have reached historic lows. The only positive aspect for British traders is the weak pound, according to Rose.
Italy is also steering towards a consolidation, especially regarding the scrap collectors. According to Leopoldo Clemente of LCD Trading, a new âGreen Economyâ law requires walking recyclers to enrol with the Italian register of authorised environmental companies for collection and transportation. Clemente emphasises the importance of these recyclers for the ferrous and non-ferrous recycling industry. On the other hand, there are a number of positive signs. Clemente mentions the âstrong foundations for a rich collaborationâ between Italy and Iran, following the nuclear agreement between Iran and the UN Security Council. There is also greater confidence among Italian consumers, as Clemente points out. He also states that there was âgreater use of industrial plants in the fourth quarter 2015â, which could increase investment levels in 2016.
In for a rough ride
2015 was not a good year for the non-ferrous metals industry. This fact was the topic of discussion on several occasions, especially at the BIR conference in Prague last autumn. The question constantly asked was: How low can it get? Many suspect that 2016 could bring a new definition of low.
