Tokio Marine HCC has published a report on the UK metals sector, highlighting the challenging conditions faced in 2023 and early 2024. Demand was subdued, thereby exerting downward pressures on prices (which, after falling in H2 2023, increased only marginally in Q1 2024), and although forward-looking indicators point towards a slightly brighter future, high interest rates and a generally sluggish macroeconomic environment continued to weigh on investment. Credit risk in the UK remains very elevated (a trend likely to last into 2025), and business failures in the sector increased significantly in 2023. To read Tokio Marine HCC’s report, go to https://www.tmhcc.com/en/news-articles/thought-leadership/trade-credit-uk-metals-sector-report-2024.
