Scrap metal merchants have given a cautious welcome to Liberty House setting up a metal recycling business in the UK.
Liberty Metal Recycling will create a network of ferrous and non-ferrous metal facilities across the UK, US and Europe. It is predicted they will be recycling an annual five million tonnes of metal in the UK alone within five years.
Some traders contacted by MRW felt it was a positive vote of confidence in the sector, and said they hoped the move would lead to an increase in quality within the industry.
Some, however, feared the new competition could have an impact on smaller businesses and those at risk of being bought out to secure supply volumes.
One said: “The more people that are doing it the better and, hopefully, it will increase the quality of scrap and customer service that the industry will be providing.”
Another was more cautious, saying “I’m not sure it will necessarily be good for everybody”, while one echoed the sentiment: “I suppose more competition is good but it might upset some businesses.”
“It’s good for the scrap business and good for the industry,” added one optimistic trader.
The British Metals Recycling Association has also welcomed Liberty Metal’s arrival in the UK scrap industry.