Scrap Metal Prices in the UK – 2024: A Year in Review

If you’re tracking scrap metal pricing in 2024, you’ve seen a lively mix of supply swings, construction slumps, and international trade ripples. Here’s how the story unfolded in the UK—and how ScrapTrade helps you navigate it like a seasoned scavenger.

1. Non-Ferrous Metals: Gentle Peaks and Steady Beats

According to Let’s Recycle, non-ferrous scrap prices in the UK saw interesting monthly movement throughout 2024:

• Dry Bright Wire (Copper) rose from £6,150/t in January to £7,000/t by May, dipping back slightly to £6,400/t by year-end.
• Heavy Copper, No. 2 Copper Wire, Braziery Copper, Insulated Copper Cable, Brass, and other alloys followed similar patterns—peaking mid-year and softening later.
  letsrecycle.com

Those mid-year highs were fueled by strong international copper demand—particularly for renewable energy and EV infrastructure—then tempered by shifting trade dynamics and European slowdown.
ReutersiScrap App

2. Ferrous Metals: Cooling Market, Cooling Prices

Ferrous scrap didn’t stay hot either. Take No. 1 old steel scrap, for example:

• Prices started the year in the £210–225/t range.
• Over time, they slid to £140–210/t by December.
• Other grades—like 0A plate & girder, No. 2 steel, cast iron—mirrored this downward trajectory.
  letsrecycle.com

The root cause? Soft demand from UK steel mills and weaker export markets, especially during March. A glut of supply and shrinking orders hammered prices downward.
Fastmarkets

3. Regional Price Highlights & Market Nuances

• Aluminium scrap prices remained sticky in mid-2024. For instance, aluminium wheels stayed around £1,800–1,850/t, while cast and rolled scraps held steady too.
  Argus Media
• Jarvis Metals (early 2025 pricing) reported:
  • Copper: £6,800–7,000/t
  • Aluminium: £950–1,100/t
  • Brass: £3,000–3,200/t
  • Steel (light iron): £140–180/t
  • Lead: £1,000–1,150/t
  • Stainless Steel (18/8): £800–1,000/t
    L. Jarvis & Sons Ltd
• McGuinness Metals offered ranges like:
  • Copper wire (dry bright): £3,000–4,500/t
  • Brass: £2,000–3,000/t
  • Aluminium: £300–600/t
  • Stainless Steel: £400–600/t
  • Lead: £800–1,200/t
    McGuinness Metals

This difference between scrap yard prices and broader market averages highlights the value of sorting, grading, and timing your sales.

4. The Bigger Picture: Why 2024 Was Such a Strange Scrap Year

A few forces made 2024 memorable:

• Copper’s global push—scrolling into surplus, but still in demand due to energy transition projects and battery needs.
  iScrap AppFastmarkets
• European steel mills pulled back—construction and manufacturing slowed, and export demand dried up mid-year.
  Fastmarkets
• Tariffs and trade turbulences—while the UK was no longer in the EU, spillover effects hit prices, especially for global exporters.
  Scrap LocalReuters

5. How ScrapTrade Helps You Make Sense of It All

Instead of juggling all these shifting rates, ScrapTrade offers:

• Real-time price updates across materials—not a single snapshot.
• Verified buyers, so you skip shady deals and zero in on good ones.
• Escrow protection, securing your payouts until delivery is confirmed.
• Integrated logistics, whether you’re selling copper cable by the tonne or bulk steel.

Thus, with ScrapTrade, you get both market savvy and sale security.

6. Final Thoughts: What 2024 Teaches Us

Scrap metal pricing in the UK last year was a dance between global trends and local market mood. Non-ferrous metals had mid-year sprints, steel cooled steadily, and supply-chain tremors echoed everywhere.

If you’re serious about getting top value—whether you’re offloading cables or industrial beams—trade smart. Lean into platforms like ScrapTrade, where data meets trust, and every kilo counts.