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Metals: Prices

Volume 493: debated on Monday 8 June 2009

To ask the Minister of State, Department for Business, Innovation and Skills what assessment he has made of the effect of recent reductions in scrap metal prices on the scrap metal industry and employment levels in that industry. (273341)

The recent fall in scrap metal prices is a global issue brought about by a sharp reduction in world metals demand and production, which has fed through to the entire supply chain for this sector including raw materials such as scrap metal. Official employment statistics do not identify numbers employed in the scrap metals industry, although the data do show that employment in basic metals production fell by 14.7 per cent. between January 2005 and February 2009.