US Copper Scrap Exports Reach Six-Year High in 2024

Copper Scrap

Total Copper Scrap Shipments Surge by 15%, Led by Strong Demand from China and Asia

In 2024, US copper scrap exports hit their highest levels in six years, marking a 15% increase from the previous year. Total copper scrap exports rose to 310,200 metric tonnes (mt), up from 270,100 mt in 2023. According to data compiled by Global Trade Tracker, this surge reflects rising demand across all forms of copper scrap.

Strong Growth in Copper Scrap Exports to China and Asia

Among the different categories of copper scrap, exports of bare bright scrap increased by 1.7%, reaching 81,400 tonnes in 2024. A significant portion of this growth was driven by a 3,200-tonne increase in exports to China. Exports of #1 copper scrap, which rose by 20% to approximately 112,400 tonnes, were also dominated by demand from China, which received 19,700 tonnes more than the previous year. Similarly, exports of #2 copper scrap saw a 21% increase, totaling over 116,500 tonnes, with higher deliveries to China, Malaysia, and Thailand.

This growing demand from Asian markets, particularly China, has contributed to the rise in US copper scrap exports. The Chicago Mercantile Exchange (CME) copper price for 2024 averaged $4.23 per pound, a 37¢ increase compared to 2023. Asian #1 copper scrap discounts averaged 19¢ per pound under the CME price, widening from the previous year’s 13¢ per pound. As a result, consumers faced a 31¢ per pound increase compared to the previous year due to the elevated exchange price.

Copper Scrap Exports: A Key Indicator of Global Demand

The rise in US copper scrap exports is a clear indicator of the strong global demand for copper, particularly in Asia. With China and other countries ramping up their copper production and consumption, the US remains a critical player in the copper supply chain. As demand for copper continues to grow, especially for use in green technologies and infrastructure, copper scrap exports will likely remain a vital component of the global market.

US copper scrap exports rise in July

Copper Scrap

US copper scrap exports rise in July as buyers shift from China to other Asian markets. Total copper scrap exports rose 16pc year on year to 29,005t, extending a three-month uptrend amid changing trade flows. However, weakness in China’s economy and property sector curbed its intake every month since December, forcing US suppliers to diversify destinations. Meanwhile, US copper scrap exports rise in July also reflects pre-emptive buying before proposed US tariffs intended to promote domestic sourcing. Therefore, exporters leaned into stronger demand from Japan and India, while China-bound volumes collapsed.

Trade flows pivot to Japan and India

US copper scrap exports rise in July with Japan showing the largest gain, adding 4,973t of receipts. As a result, shipments to China fell by 95pc, a drop of 11,081t, underscoring a decisive market pivot. Moreover, bare bright volumes surged 120pc to 13,200t on increased exports to India, offsetting declines in #1 and #2 grades. However, #1 copper scrap slipped 3pc to 8,916t as China took just 135t versus 5,288t a year earlier. Exports of #2 scrap fell 30pc to 6,888t, marking an eighth straight monthly decline led by a 98pc collapse to China.

Price arbitrage widens discounts and drives opportunistic sales

US copper scrap exports rise in July amid record CME pricing and wider arbitrage. The CME next-active copper contract averaged $5.48/lb, up $1.12/lb from July 2024, and set a $5.82/lb daily high. Consequently, Asian #1 scrap discounts widened to an average 83¢/lb under CME versus 25¢/lb a year earlier. Consumers still paid $4.65/lb for #1 scrap, 54¢/lb more year on year, reflecting exchange-linked uplift. Meanwhile, an average $1.08/lb arbitrage, up from 45¢/lb in June, encouraged July buying as market participants positioned around proposed US trade measures. The announced 50pc duty on copper cathodes slated for 1 August was not implemented, but the signaling effect supported mid-summer export activity.

The Metalnomist Commentary

The shift away from China and toward Japan and India confirms a structural re-routing of US copper scrap. Watch discounts versus CME and policy headlines as leading indicators for Q4 flows, while grade-mix dynamics may continue to favor bare bright over #1 and #2.

US Titanium Scrap Imports and Exports Decline in 4Q Amid Supply Chain Disruptions

US Titanium Scrap

Titanium Scrap Trade Faces Challenges as US Imports and Exports Fall in the Fourth Quarter

US titanium scrap imports and exports experienced a decline in the fourth quarter of 2024, according to recent US customs data. Weaker demand, especially triggered by a seven-week strike at Boeing, led to disruptions in supply chains, significantly affecting titanium scrap trade volumes. Imports fell by 5% to 6,779 metric tonnes (t), marking the lowest total since the first quarter of 2024.

Factors Behind the Decline in US Titanium Scrap Imports

The 5% decrease in imports can be attributed to reduced demand for titanium scrap. Boeing's strike had a substantial impact on supply chains, particularly in aerospace, which is a major consumer of titanium. As a result, the overall import volume dropped. The UK remained the top source of titanium scrap to the US, increasing shipments by 21% to 1,235t, which accounted for about 18% of US imports. On the other hand, imports from Canada fell by 27% to 588t, while shipments from Germany and Japan also decreased by double digits.

US Exports and Shifting Global Markets

US titanium scrap exports also declined, albeit slightly. Total exports fell by 1% to 2,701t. This was primarily driven by reduced prices from overseas markets and the typical seasonal slowdown in manufacturing during the holidays. India emerged as the top destination for US titanium scrap, with exports rising by 59% to 689t. Conversely, exports to Canada fell by 23% to 599t, while shipments to the UK rose by 24% to 397t.

Exports to Mexico surged by 590%, reaching 352t, while exports to South Korea and Germany dropped significantly. Exports to South Korea fell by 77% to 56t, and shipments to Germany declined by 59% to 41t. Despite these fluctuations, US titanium scrap exports for the full year saw a significant increase, rising by 18% to 11,756t, the highest in four years.

Conclusion: A Mixed Outlook for US Titanium Scrap Trade

The fourth-quarter data reveals both challenges and opportunities in the US titanium scrap trade. While imports faced declines due to supply chain disruptions, export volumes saw a notable rise for the full year. The shift in export destinations, particularly the rise in demand from India and Mexico, suggests evolving global market dynamics for US titanium scrap. Going forward, the US titanium scrap trade will need to navigate these changes while adjusting to the impact of global supply chain and economic conditions.

US Copper Scrap Exports Continue to Climb in June, Despite Mixed Performance Across Categories

U.S. copper scrap exports sustained their upward momentum in June, marking an 8 percent increase compared to the same period last year. This growth, driven by heightened shipments of bare bright and #2 copper, managed to offset a decline in #1 copper exports.

In total, copper scrap exports for June reached 22,573 metric tonnes, up from 20,850 metric tonnes in June 2023. This marks the eighth consecutive month of year-over-year growth in the sector. Over the first half of 2024, U.S. copper scrap exports totaled 156,756 metric tonnes, reflecting a 22 percent increase compared to the first half of the previous year.

The volume of bare bright scrap exports, although rising 3 percent from the previous year to 5,637 metric tonnes, represented the lowest monthly total in the past year due to a significant 13 percent drop in shipments to China. In contrast, exports of #1 copper scrap fell sharply by 17 percent to 7,033 metric tonnes, with four Asian countries reducing their import volumes.

Meanwhile, #2 copper scrap exports saw a robust 44 percent surge to 9,903 metric tonnes, largely driven by increased demand from China and Malaysia.

On the pricing front, Comex copper for June averaged $4.50 per pound, an increase of 70 cents per pound from June 2023. However, this was the lowest monthly average since April, as the U.S. dollar gained strength during the month. As a result, consumers faced an average year-over-year cost increase of 69 cents per pound.

Despite the higher prices, market activity was slower than in May, with sellers indicating that while buyers could be found, the terms were increasingly favorable to the buyers. Hopes that China would introduce stimulus measures in July to bolster its property market and boost demand for copper ultimately proved unfounded, as the country refrained from injecting funds into its struggling economy.

EU aluminium scrap export restriction consultation targets rising exports

EU, Aluminium scrap

EU aluminium scrap export restriction policy moved closer on 19 December. The European Commission opened a public consultation on limiting aluminium scrap exports. EU aluminium scrap export restriction aims to address tighter scrap availability in Europe. Therefore, recyclers and traders now face a clear policy timeline.

The consultation asks market participants to comment on trade defence options. Respondents must complete a questionnaire by 31 January. Meanwhile, the Commission will review responses before drafting final measures. The Commission plans to adopt the package in spring 2026.

The consultation tests export duties and tariff rate quotas

The consultation covers export duties and tariff rate quotas for aluminium scrap. These tools can slow outbound flows without banning trade outright. However, the Commission must calibrate measures to avoid unintended disruptions. Therefore, stakeholder feedback will shape the final design.

The Commission framed the process as an economic security and industrial resilience step. Officials want more scrap to stay within EU recycling loops. Meanwhile, downstream buyers want stable pricing and reliable secondary supply. As a result, the policy will influence contracting and inventory strategies.

Aluminium scrap exports squeeze recyclers and reshape pricing power

Aluminium scrap exports rose sharply over recent years. The Commission cited a 50% export increase from 2019 to 1.2mn tonnes in 2024. Higher external bids lifted European scrap prices. As a result, secondary aluminium producers saw margins tighten.

Secondary aluminium supports low-carbon aluminium goals and circular economy targets. However, scrap scarcity can push producers back toward primary metal. Therefore, the EU aluminium scrap export restriction debate links directly to decarbonisation policy. Companies will likely accelerate sorting, upgrading, and closed-loop scrap programs.

The Metalnomist Commentary

This consultation signals a shift from monitoring to intervention in EU scrap flows. However, the final impact depends on quota levels and enforcement quality. The winners will secure domestic scrap streams before spring 2026 rules arrive.

New US Tariffs Could Significantly Impact European Aluminium Scrap Exports

Aluminium Scrap

European aluminium recycling faces challenges as US tariffs on scrap imports rise.

The recent announcement of new tariffs by the United States government, particularly on aluminium scrap from Europe, is sending ripples through the European aluminium recycling industry. The sweeping tariff adjustments, which were introduced by US President Donald Trump on April 2, threaten to significantly reduce the flow of European aluminium scrap to the US. With these new measures, aluminium scrap will face a substantial tariff, making it less attractive for US buyers.

Impact of New Tariffs on Aluminium Scrap Exports

The new tariffs, set to take effect on April 9, place aluminium scrap imports from Europe under a 20% tariff, while imports from the UK will face a slightly lower 10% tariff. This comes after the previously established 25% tariff on primary aluminium imports from Europe, which was put in place last month. As a result, the cost of importing aluminium scrap from Europe will be nearly as high as that for importing primary aluminium, significantly altering the economics of aluminium recycling.

Historically, the US had been a major buyer of European aluminium scrap, with many industries using recycled aluminium as an alternative to primary aluminium. The new tariffs, however, will likely make scrap imports much less appealing to US buyers, pushing them to explore other options. This comes after previous expectations that the US would turn to aluminium scrap as a more affordable alternative to primary aluminium, which is now burdened by hefty tariffs.

Reactions from Industry Associations

Industry associations such as European Aluminium and Aluminium Deutschland have voiced concerns over the new tariffs, as they undermine the viability of aluminium scrap exports. These associations had earlier called for export restrictions on scrap due to fears that large-scale shipments of aluminium scrap could exacerbate market imbalances. With the tariffs in place, the likelihood of scrap exports to the US is expected to diminish significantly.

European Aluminium has indicated that it is closely monitoring the situation to determine its next steps regarding export restrictions. Aluminium Deutschland, however, has yet to comment on the matter.

What This Means for the Aluminium Recycling Industry

These new tariffs could lead to a shift in the global aluminium market. If European aluminium scrap becomes less competitive due to high tariffs, it may force US buyers to seek out other sources of aluminium scrap, possibly from domestic markets or alternative suppliers. Additionally, this could put pressure on European recyclers, who may face reduced demand for their products, forcing them to explore new markets or adjust their pricing strategies.

As the situation evolves, the aluminium recycling industry in Europe will need to adapt to these new challenges, either by lobbying for changes in tariff policies or by finding ways to remain competitive in an increasingly restricted global market.

US Copper Scrap Exports Surge by 17% in October

US Copper Scrap

US copper scrap exports witnessed a remarkable 17% growth in October 2024 compared to the previous year, driven by increases in @1 and @2 copper shipments.

Strong Year-Over-Year Growth in Exports

The United States exported nearly 26,200 metric tonnes of copper scrap in October 2024, a significant rise from approximately 22,500 tonnes during the same period in 2023. This marks the 12th consecutive month of year-over-year increases, hitting the highest monthly total since May 2024.

However, the rise in total exports was contrasted by a 4% decline in bare bright copper scrap shipments, which fell to approximately 6,700 tonnes. Notable reductions in exports to Greece and South Korea contributed to this decline.

@1 and @2 Copper Scrap Lead Export Growth

Exports of @1 copper scrap surged by an impressive 31%, reaching nearly 10,000 tonnes. China was the primary driver, with an additional 1,800 tonnes compared to last year. While exports to Germany saw a decline, China’s demand more than compensated for the dip.

Similarly, @2 copper scrap exports climbed by 21%, surpassing 9,400 tonnes. The growth was fueled by heightened deliveries to major importing nations such as China, Malaysia, and Belgium.

Copper Prices and Market Trends

The October average for CME copper futures reached $4.42 per pound, marking an 81¢ increase from October 2023 and the highest monthly average since June 2024. Meanwhile, Asian @1 copper scrap discounts widened to 19.5¢/lb under CME prices, compared to 11¢/lb under in the previous year.

The elevated exchange prices, coupled with optimism for a stronger Chinese economy, drove higher consumer costs, averaging 73¢/lb above last year. The market responded to policy signals from China’s Ministry of Finance, including potential support for the real estate sector. These measures briefly boosted copper demand expectations, although the rally was short-lived. Market participants remain hopeful for further economic stimulus to drive China closer to its 5% growth target.

US titanium scrap-sponge ratio set to shift as melters chase margins

Titanium Scrap

The US titanium scrap-sponge ratio is poised to shift as melters chase cheaper inputs in 2026. Premium titanium sponge prices and weak downstream demand are squeezing margins and forcing producers to reconsider melt mixes. As a result, the US titanium scrap-sponge ratio could move decisively toward higher scrap utilization across many grades.

Furnace expansions support higher scrap utilization

Capacity expansions at ATI, Perryman and Timet will give melters more room to adjust the US titanium scrap-sponge ratio. Their projects are expected to add nearly 30,000 t/yr of ingot production capacity once fully ramped, according to Metalnomist estimates. Consequently, scrap utilization capacity could rise by 22pc to 111,215t in 2026 compared with 2024, ELG Utica Alloys’ Nick Corby told the International Titanium Association conference.

However, not every alloy can fully pivot away from sponge, because certain grades still require premium sponge for purity. Grade 5 (6Al-4V) ingot can be melted from 100pc scrap, which encourages a higher US titanium scrap-sponge ratio when prices favor recycled inputs. Importantly, melters can alter the scrap and sponge ratio without major downtime, allowing them to track raw material prices and supply conditions in real time.

Meanwhile, destocking in commercial aerospace could cap the practical impact of these technical options. Boeing and Airbus are signalling another year of subdued orders for ingot and milled products as they normalise inventory. This means melters already grappling with weaker demand may push deliveries out or no-quote dealers on certain grades, even as the US titanium scrap-sponge ratio tilts structurally toward scrap.

Global scrap flows deepen market distortions

Scrap sourcing dynamics will play a critical role in how far the US titanium scrap-sponge ratio can shift. The US accounts for around 95pc of global consumption of aerospace-grade titanium scrap, making it the natural sink for high-grade revert. Imports are crucial, covering more than half of US raw material needs and bridging gaps in domestic generation.

Historically, Europe supplied much of this scrap, reflecting its strong base of forging and machining operations. Long-standing supply agreements and buy-back schemes cemented a circular flow of titanium between the two regions. However, shifts in downstream processing toward Asia are eroding Europe’s share, even as titanium activity in countries like China accelerates.

China is on track to increase global titanium scrap exports by 64pc in 2025 to 5,874t, with most of that likely moving into the US. Officially, the US has only imported 434t of titanium scrap from China this year, US Commerce Department data show. Yet market participants say Chinese-origin scrap often reaches the US via other Asian countries to circumvent 25pc tariffs, complicating visibility.

As a result, the supply chain looks “inconsistent”, with scrap availability not matching lower generation rates caused by delayed aircraft build schedules and OEM stockpiles. Corby noted that imports are expected to exceed exports by 19,460t this year, the widest gap since records began. At the same time, European ferro-titanium consumers face weak steel demand and index-driven price pressure, cutting their appetite for scrap and pushing more material toward US buyers.

The Metalnomist Commentary

The evolving US titanium scrap-sponge ratio highlights how price signals, furnace investments and trade flows interact across the titanium ecosystem. For melters, flexibility in melt mixes is becoming a strategic hedge against stubborn sponge prices and volatile aerospace demand. For scrap generators and intermediaries, rising US dependence and opaque routing via Asia could keep differentials wide — and margins attractive — well into the next aerospace upcycle.

European Aluminium Industry Pushes for Scrap Export Restrictions

Al scrap

Rising Pressure for Scrap Export Controls

The European aluminium scrap market is facing mounting pressure as supply tightness collides with strong export demand. Industry groups such as European Aluminium and Aluminium Deutschland have intensified lobbying for export tariffs to secure domestic scrap supply. Their push comes as the US raises tariffs on primary aluminium imports, potentially boosting American demand for European scrap.

Exports of European aluminium scrap surged in recent years, particularly to Asia. The EU and UK together shipped 1.57mn tonnes in 2024, a 23pc increase compared with 2022. India and China accounted for the bulk of these flows, while exports to the US, though smaller, grew sharply. European Aluminium warned that rising US interest, combined with current supply shortages, risks creating a “full-blown scrap crisis.”

Industry Debate and Market Risks

However, not all stakeholders agree that restrictions are the solution. Scrap merchants argue that supply shortfalls are driven more by weak industrial activity than by exports. Low production in automotive, construction, and machinery has reduced available grades like aluminium turnings, which are essential for European secondary smelters. They caution that tariffs may not address these structural issues and could trigger reciprocal trade barriers, complicating Europe’s own scrap imports.

At the same time, many producers identify high energy costs as the bigger threat to smelter viability. Merchants note that no smelter closures have been directly tied to scrap shortages, while escalating electricity prices have forced cutbacks. Despite this, calls for restrictions continue to gain traction, reflecting a broader trend of resource nationalism as countries prioritize domestic recycling over exports.

The Metalnomist Commentary

The debate over aluminium scrap export restrictions underscores a critical tension between free trade and industrial security. While tariffs may stabilize domestic availability, they risk distorting markets and inviting retaliation. The EU must weigh these risks carefully, especially as global competition for low-carbon feedstock intensifies. Energy costs, more than scrap scarcity, remain the sector’s existential challenge.

India’s aluminium scrap demand shifts pressure to Europe and the Middle East

Aluminium Scrap

India’s aluminium scrap demand faces new constraints from US tariffs. India’s aluminium scrap demand now pivots toward Europe and the Middle East. India’s aluminium scrap demand will stay import-reliant despite recycling goals.

Trade tensions squeeze US flows; buyers pivot to new lanes

India remains a top global buyer of aluminium scrap. Imports reached 1.74mn t in 2024 after a 2023 peak of 1.83mn t. US tariffs now disrupt this flow. Washington lifted India’s import tariff to 50pc, doubling the previous rate. As a result, US shipments to India are sliding. First-half 2025 exports totaled 182,000t, tracking 364,000t for the year. That pace marks an 11pc drop versus 2024.

China now rivals India as a leading importer. Both could end near 1.72mn t in 2025 at current run-rates. However, China’s vast secondary capacity exceeds 11mn t/yr. India’s capacity is only ~2mn t/yr. Therefore, imports cover about 90pc of India’s scrap needs. With US supply tightening, India will lean harder on Europe and the Middle East.

Europe, UK and Gulf suppliers face tighter balances

Europe already ships sizable volumes to India. The EU sent 291,000t in 2024, while the UK shipped 162,000t. Middle East flows reached 361,000t, led by the UAE and Saudi Arabia. Consequently, stronger Indian bids may lift delivered prices and drain local availability. European secondary smelters could face higher feed costs and sporadic gaps. Calls to restrict EU scrap exports will likely intensify into 2026.

Policy plans will not change the near-term math. India’s “Vision 2047” targets 2mn t/yr domestic scrap collection by 2030. Authorities aim for 7mn t/yr by 2047 through closed-loop systems. They also plan to raise the recycling rate to 56pc from ~30pc. Meanwhile, primary aluminium ambitions rise toward 37mn t/yr from 4.2mn t/yr. Yet these goals need time, capital and logistics. Until then, import dependence will persist.

Market participants should prepare for tighter arbitrage. European yards may see faster turnarounds and firmer bids. Gulf exporters could prioritize long-term contracts with Indian consumers. Freight, quality premia, and contamination rules will matter more. Price risk will rise if US-India talks stall and tariffs remain.

The Metalnomist Commentary

Watch three levers: US-India negotiations, EU debate on scrap export rules, and India’s collection build-out pace. If Europe curbs exports, India will compete harder in the Gulf and Africa. Near-term, feed scarcity supports scrap premia and squeezes secondary margins outside India.

European Aluminium Renews Call for Aluminium Scrap Export Restrictions

European Aluminium Scrap

US Tariff Hike Intensifies Scrap Supply Pressures in Europe

European Aluminium has renewed its push for export restrictions on aluminium scrap following US president Donald Trump’s decision to double tariffs on EU steel and aluminium imports to 50%. The association warns that the move could accelerate scrap outflows to the US, worsening an already tight supply situation in Europe.

The industry group first raised the proposal in 2018 when the US imposed a 25% tariff on all steel and aluminium imports. Scrap aluminium was excluded from the sanctions, making it an attractive alternative for US buyers seeking to avoid higher costs on primary aluminium. With the latest tariff hike, European Aluminium says the outflow has intensified, threatening domestic recycling and semi-fabrication operations.

Rising Global Demand for Aluminium Scrap Fuels Competition

Strong demand from buyers in India and other Asian markets has already strained European scrap supply. These buyers offer higher prices, benefiting from lower labour and energy costs and weaker environmental regulations. Additionally, primary aluminium producers in Europe are increasingly using higher-grade scrap to meet automotive customers’ sustainability goals.

European Aluminium reported that scrap exports to the US surged 273% year-on-year in the first quarter of 2025, already accounting for two-thirds of total exports in 2024. Without swift EU intervention, the association warns that the situation could escalate into a “full-blown scrap crisis,” jeopardizing the viability of Europe’s aluminium recycling and semi-fabrication industry.

The Metalnomist Commentary

The surge in US demand for European aluminium scrap highlights the vulnerability of supply chains to trade policy shifts. For the EU, balancing open trade with the need to safeguard strategic raw materials will be critical. Without targeted restrictions or incentives to retain scrap domestically, Europe risks undermining its own circular economy and low-carbon manufacturing goals.

Japan Explores E-Scrap Opportunities in Southeast Asia Amid EU Supply Risks

Electronic Scrap

As concerns about European Union (EU) export restrictions grow, Japan is shifting its focus to Southeast Asia for electronic scrap (e-scrap) procurement to mitigate potential supply disruptions. This strategic pivot comes as the EU contemplates extending stringent controls on e-scrap exports, possibly affecting Japan, a nation heavily reliant on these resources for its non-ferrous metal production, including copper.

EU Regulations Tighten, Japan's Response

The recent implementation of the EU's Waste Shipment Regulation (WSR) in January 2023, which restricts scrap metal exports to non-OECD countries for environmental reasons, has raised alarms in Japan. Japanese custom data indicates that in 2023, Japan imported approximately 73,000 tons of e-scrap from the EU, accounting for about 40% of its total e-scrap imports. The Japanese Ministry of Environment highlights the country's dependence on imports to satisfy nearly half of its domestic e-scrap needs.

In response to the EU's policy shift and the consequent supply risk, Japan and the Association of Southeast Asian Nations (ASEAN) signed a circular economy initiative in August 2023, aiming to foster e-scrap procurement and processing in the region.

Challenges in Southeast Asia

Despite these efforts, the transition to Southeast Asian sources is not without challenges. A ministerial meeting between Japan and ASEAN in Laos in September revealed no specific advancements in circular economy discussions. The Economic Research Institute for ASEAN and East Asia (Eria) reported in 2023 that the region's smelting capacity for non-ferrous metals is significantly underdeveloped, with secondary production figures for aluminium and copper being notably low.

Moreover, the Global E-waste Monitor 2024 by the United Nations indicates a stark contrast in recycling rates between Asia (12% in 2022) and Europe (43%). Indonesia, while being the largest e-scrap producer in Southeast Asia, faces severe limitations in e-scrap management and infrastructure, often resorting to landfill disposal.

Conclusion

As Japan navigates these complex international dynamics, the necessity for diversified and secure e-scrap sources is more apparent than ever. The country's move towards Southeast Asia represents a cautious yet hopeful approach to securing the metals essential for its economic stability and technological advancements.

US Titanium Scrap Imports and Exports Surge in Q3 Amid Global Trade Shifts

Titanium Scrap

The U.S. Titanium scrap market witnessed a notable upturn in both imports and exports during the third quarter of 2024, driven by reduced domestic scrap generation rates and favorable margins in international markets. According to recently released U.S. customs data, titanium scrap imports climbed 8.8% year-over-year to 7,484 metric tonnes (t), marking the highest quarterly total since Q2 2019. Exports, meanwhile, surged by 33% to 3,088t, the strongest performance since Q1 2021.

Titanium Scrap Imports: Supply Chain Adjustments

The U.S. market's reliance on foreign titanium scrap intensified as domestic supplies tightened. Imports from the UK rose sharply, increasing by 36% to 1,386t, compensating for declines from other key suppliers like Germany and Japan, which saw reductions of 5% (1,002t) and 20% (743t), respectively.

Shipments from emerging suppliers saw significant growth, with double-digit percentage increases from Singapore, Italy, South Korea, Mexico, and France. These diversified sourcing strategies reflect global trade adjustments amidst fluctuating titanium market dynamics.

Exports on the Rise: International Margins Drive Growth

On the export front, U.S. merchants capitalized on improved margins in international markets. The UK remained the top destination for U.S. titanium scrap, with shipments reaching 745t—a more-than-fourfold increase compared to Q3 2023.

Mexico exhibited the highest year-over-year percentage growth, receiving 300t in Q3 2024, a dramatic increase from just 19t in the same period last year. Estonia also displayed substantial growth, importing 208t, up 285% from the prior year. However, India reduced its imports of U.S. titanium scrap by 38% to 286t, reflecting a shift in trade dynamics within the region.

European Aluminium Renews Call for Aluminium Scrap Export Restrictions

European Aluminium Scrap

Push for Export Fees to Protect Recycling Industry

European Aluminium has issued its third call this year for restrictions on aluminium scrap exports from the EU. The industry body urged policymakers to impose export fees, arguing that such measures would help secure more scrap for European recycling facilities. According to the association, stronger controls could stimulate investment, boost remelting capacity, and close the loop within Europe under strict environmental and social standards.

Impact of Scrap Shortages on EU Producers

The push comes as secondary aluminium alloy producers struggle with squeezed profit margins, driven by high scrap costs and rising European energy and labor expenses. Scrap availability has tightened as generation slowed in automotive, construction, and manufacturing sectors, while exporters in India and Asia raised purchase prices. European Aluminium reported that around 15pc of recycling furnace capacity is currently idled due to insufficient scrap supply, warning that unchecked exports risk undermining the bloc’s sustainability goals.

The Metalnomist Commentary

The repeated call from European Aluminium highlights the tension between global scrap demand and Europe’s recycling ambitions. Export restrictions could secure domestic feedstock, but they may also trigger retaliatory measures and complicate global trade. The EU must balance industrial resilience with open-market principles if it aims to lead in the circular economy transition.

US Titanium Scrap exports soar in 2Q

Domestic exports of titanium scrap surged in the second quarter compared with the same period last year, driven mainly by higher raw material prices in Europe and more stringent consumption specifications in India.

- Total global shipments rose 51% to about 3,200 tonnes, according to data released this week by the US Department of Commerce.

- Exports to India nearly doubled to around 650 tonnes, with more than half of this volume shipped in June.

- Shipments to the UK increased by 82% to almost 600t, with around 500t of this being shipped in April and May.

- Mexico entered the top five destinations for US titanium scrap exports, rising from zero to almost 300 tonnes.

- Japan and Estonia - two major importers in the previous year - brought in less in the latest quarter, importing 59pc and 50pc less respectively.

US Tariffs Pressure Copper Prices and Curb China’s Scrap Imports

China Copper

US tariffs, introduced by President Donald Trump on April 2, have significantly impacted global copper prices. The tariffs, set at a minimum 10% tax on all foreign imports, have caused concerns about weakened copper demand, particularly from key industries that rely on copper, such as automobiles and home appliances. China’s copper scrap imports are also under pressure due to retaliatory tariffs, which will be implemented by China on April 10.

Impact of Tariffs on Copper Prices

Following the announcement of tariffs, copper prices saw a dramatic decline. As of April 7, London Metal Exchange (LME) three-month copper prices fell to a one-year low of $8,105 per ton, a significant drop from $9,721 per ton on April 2. Similarly, Shanghai Futures Exchange (SHFE) prices also plummeted to a three-month low of 73,640 yuan per ton from 79,890 yuan per ton during the same period.

Although copper itself is not directly affected by the new tariffs, the downstream sectors, such as automotive manufacturing and home appliances, face substantial tariffs. This will likely depress demand for copper, as these industries represent significant end-users of copper products.

US Tariffs on Cars and Appliances Affect Copper Demand

A 25% tariff on imported cars and trucks came into effect on April 3, with a further 25% tax on auto parts set to follow in May. The US light vehicle market saw significant growth in 2024, with sales climbing to 16.8 million units. Similarly, the US imported $23.5 billion worth of home appliances from China in 2024. These appliances, including cooling devices and electronics, represented 23% of global copper demand in 2023. The imposition of tariffs on these goods will likely lead to a reduction in copper demand from the US.

On a positive note, lower copper prices may drive copper fabricators to restock in the short term, especially after a significant price drop in late March. Data from the SHFE shows that copper stocks fell from 256,328 tons on March 21 to 225,736 tons by April 3, as downstream buyers rushed to purchase copper cathode in response to falling prices.

China’s Retaliatory Tariffs and Copper Scrap Imports

China’s planned tariffs on US copper scrap, set to take effect on April 10, will impact copper supply in the country. In 2024, China imported over 440,000 tons of copper scrap from the US, accounting for nearly 20% of its total copper scrap imports. However, market participants predict that some traders will attempt to bypass the tariffs by sourcing US-origin copper scrap from other countries.

In February, US copper scrap exports fell by 10% compared to the previous year, with China seeing the largest drop in imports. This decrease in exports can be attributed to tariff expectations, which have made it difficult for US exporters to remain competitive. The large spread between CME and LME prices has further strained export options, leaving US dealers with excess scrap volumes.

Limited Impact on Copper Concentrate and Cathode Supplies

China’s retaliatory tariffs are expected to have a minimal impact on its domestic copper concentrate and cathode supply. In 2024, China imported just 460,000 tons of copper concentrate and 1,575 tons of copper cathode from the US, representing only a small fraction of its total imports. Therefore, the retaliatory tariffs are unlikely to cause significant disruptions to these supply chains.

European Aluminium Calls for EU Scrap Export Limits

European Aluminium Scrap

Aluminium industry group urges EU action to protect regional scrap supply amid rising export demand and U.S. tariff pressure

Rising Exports and U.S. Tariffs Put Pressure on EU Scrap Supply

European Aluminium has urged the EU to implement export limits on aluminium scrap. This follows increased competition from Asian markets and new U.S. trade measures. In 2024, the EU exported 1.5mn tonnes of aluminium scrap, with over 500,000t going to India alone. Meanwhile, U.S. buyers are now expected to shift toward scrap after Washington imposed a 25% tariff on primary aluminium.

Industry Pushes for Regulation Through the WSR and Circular Economy Act

The association proposed using export fees and tightening the Waste Shipment Regulation (WSR). This 2023 revision now includes scrap metal, offering a legal pathway for restrictions. European Aluminium also called for a new Circular Economy Act to ensure long-term scrap availability and quality. Furthermore, it recommends a dedicated emissions benchmark for recyclers.

Scrap Now Central to Primary Production and Green Goals

Sustainability targets have pushed primary aluminium producers to use more scrap. Improved technologies also enable the use of lower-grade material. As a result, competition for European scrap has intensified. German trade body Aluminium Deutschland previously appealed to its government for similar EU-wide restrictions.

The Metalnomist Commentary

Aluminium scrap is no longer a marginal byproduct—it’s become a strategic resource. With decarbonization and tariffs converging, Europe faces a policy choice: export profits or internal supply security. The latest moves by industry groups show momentum for regulatory intervention.

EU Ferro-Titanium Imports Fell to 2009 Low After Russian Ban

Ferro-Titanium

EU ferro-titanium imports fell to their lowest level since 2009 in 2025 after sanctions blocked Russian material from entering the bloc directly or through Baltic transit routes. EU countries imported 30,171t of ferro-titanium last year, down 36% from 47,296t in 2024.

The sharp decline showed how deeply the European ferro-titanium market had depended on Russian supply and Baltic logistics. Estonia, Poland, and Latvia together accounted for 12,830t of EU supply, but the structure of that supply changed significantly once Russian-origin ferro-titanium was barred.

EU ferro-titanium imports from Estonia halved on the year to 6,384t. The decline suggests that Estonian flows now more closely reflect local production rather than Russian material transiting through the country.

Sanctions Shifted Supply Toward Estonia, Poland and India

Estonia remained the EU’s largest ferro-titanium supplier in 2025, while Poland became the second-largest intra-EU source. Polish shipments rose by a quarter to 3,834t, showing that European buyers were turning more heavily to regional producers after the Russian ban.

Imports from the UK fell 27% to 3,468t after the closure of TiVac last summer. Most of TiVac’s former volumes are expected to shift to Estonia, where FE Mottram is scaling up operations in Ahtme, while Transition Metals continues to operate in the UK.

India became a larger alternative supplier as exports to the EU rose 171% to 2,310t. Turkey’s shipments also surged to 1,000t, although these flows remain unclear because Turkey is not a known ferro-titanium producer.

Russian ferro-titanium imports fell to just 463t in 2025 after full implementation of EU sanctions on Russian ferro-alloys in December 2024. Russian exports largely moved to Asia, with Chinese imports from Russia reaching a record 6,381t last year.

Russian Scrap Flows Rose Before Late-Year Slowdown

Titanium scrap became a temporary workaround because Russian titanium scrap was not covered by EU sanctions. EU imports of Russian scrap doubled to 2,517t in 2025, with 2,406t entering Estonia.

Estonia then re-exported 2,277t of titanium scrap last year, showing how scrap flows supported the regional ferro-titanium supply chain after the ban on Russian ferro-alloys. However, this trade also weakened sharply toward year-end, with EU imports falling to 36t in December and 37t in January 2026.

European ferro-titanium prices averaged $4.98-5.33/kg Ti dp/df Rotterdam in 2025, down 28% from 2024. Weak steel mill consumption kept prices under pressure for most of the year.

The market later rebounded from multi-year lows in December. Supply concerns linked to Latvian producer LLR-Ecotech first supported the recovery, before higher scrap costs allowed other producers to raise offers.

The Metalnomist Commentary

The EU ferro-titanium market is now being rebuilt around sanctions compliance, regional production, and scrap availability. The Russian ban reduced headline imports, but it also exposed Europe’s dependence on flexible titanium scrap flows and a small group of regional producers.

Japan tungsten recycling expansion accelerates after China export controls

the International Tungsten Industry Association(ITIA)

Japan tungsten recycling expansion is now central to the country’s response to China’s new export controls. Japan has no domestic tungsten mines and historically relied on Chinese APT and cemented carbide imports. As a result, Japan tungsten recycling expansion is becoming the primary lever to secure supply and stabilise its hard-metal value chain. Japan tungsten recycling expansion also reflects a broader shift toward circularity and strategic raw material resilience.

Scrap flows highlight the scale of Japan tungsten recycling expansion

Japan is ramping tungsten scrap utilisation to compensate for lower Chinese export volumes. The country generates 3,500–4,000t of tungsten scrap annually, with about half recycled domestically and half exported. However, Japan also imports 500–1,000t of scrap each year, underscoring its dependence on global recycling networks.

China’s export controls on APT and cemented carbide have sharply reduced shipments into Japan. No other producing country has fully offset this loss, creating a structural shortfall in virgin tungsten materials. Therefore, Japanese industry is pushing harder to capture and process scrap from cutting tools and hard-metal components.

Scrap exports to overseas processors have also surged as part of this adjustment. From April to June, Japan exported 865t of tungsten scrap, double the previous quarter. Much of this material goes to the US, Germany and Taiwan for conversion into tungsten carbide powder. Meanwhile, limited domestic processing capacity means Japan must then reimport refined powders or finished tools.

Japan lacks tungsten recycling capacity comparable to leading manufacturing countries such as Germany. Market participants agree that higher prices and strong scrap demand create a window to invest in domestic plants. Companies like Mitsubishi Materials and Sumitomo Group are intensifying recycling efforts, but significant capacity additions will take time to materialise.

Strategic impact of Japan tungsten recycling expansion on supply security

Japan tungsten recycling expansion carries important strategic implications beyond near-term supply balancing. By strengthening domestic scrap processing, Japan can reduce exposure to Chinese export policies over the medium term. At the same time, enhanced recycling supports national goals on circular economy and lower carbon metal supply.

Industry leaders emphasise that Japan still needs a framework for constructive cooperation with China. However, they also stress that recycling will play a growing role in any long-term procurement strategy. As a result, Japan tungsten recycling expansion is viewed as both a defensive and forward-looking move. It protects critical industries today while aligning with future ESG requirements.

Higher tungsten prices and constrained primary supply should continue to incentivise investment in collection, sorting and processing infrastructure. Tool manufacturers and end-users will likely see tighter take-back schemes and more advanced recycling logistics. In five to ten years, today’s disruption may be remembered as the catalyst that forced Japan to build a more robust, diversified tungsten procurement system.

The Metalnomist Commentary

Japan’s response to China’s tungsten export controls shows how quickly advanced manufacturing economies can pivot toward recycling when supply shocks hit. If current investment momentum holds, Japan could evolve from a largely import-dependent buyer into a more balanced scrap-and-powder hub. Market participants should watch where new recycling plants are sited and how quickly domestic processing capacity closes the gap with Germany and other leaders.

UK scrap export restrictions could cost jobs and billions, BMRA warns

UK scrap

The UK scrap export restrictions debate now carries major economic risk, according to a BMRA-commissioned study. The report finds UK scrap export restrictions would threaten thousands of jobs and curb growth. It argues UK scrap export restrictions would weaken an already strained recycling ecosystem.

EAF transition raises demand for scrap

UK steel is shifting to electric arc furnaces that consume more scrap. If all furnaces used only scrap by 2050, they would need two-thirds of UK supply. UK steelmakers used an estimated 2.6mn t in 2023 amid closures and reduced activity. The UK generates about 10mn t of scrap each year. However, export markets currently sustain prices and liquidity for recyclers.

Policy scenarios show heavy economic losses

The study models multiple restriction options and shows steep losses. A 10% export quota could cut nearly 3,000 jobs and £880mn in five years. A 50% quota could remove over £4bn and 23,000 jobs. A non-OECD ban risks £4.9bn and about 20,000 jobs. BMRA stresses exports are the sector’s “lifeblood” that anchor viable throughput. Meanwhile, government steel strategy consultations continue this year.

The Metalnomist Commentary

Restricting scrap flows to engineer availability risks shrinking the very supply base EAFs need. A smarter path ties domestic EAF ramp-up to price-transparent, open export channels plus quality upgrades. Calibrated incentives beat blunt quotas for long-run circular capacity.