U.S. President Donald Trump has signed an executive order authorizing restrictions on exports of critical minerals-bearing scrap, including electronic waste and used batteries, to strengthen domestic recycling and reduce reliance on foreign supply chains. The order directs the U.S. Department of Commerce to develop rules limiting exports of recoverable critical minerals, aiming to retain valuable materials such as lithium, tungsten and rare earths for domestic processing. The move forms part of the administration's broader strategy to bolster U.S. critical minerals security and support domestic recycling capacity.

[SMM Tungsten Express] Japan's response to China's tungsten export controls demonstrates that supply chain restructuring can effectively hedge geopolitical risks. After China imposed tungsten export controls in February 2025, Japan quickly pivoted to tungsten scrap from the US, Singapore and Europe, with US scrap exports to Japan surging 24-fold in Q1 2026. Major producers have initiated expansion plans: Mitsubishi Materials invested ~$64 million to expand recycling capacity in Japan and Europe, while Sumitomo Electric invested $100 million in a new plant expected to boost tungsten supply capacity by ~50% by 2028. The Japanese government is advancing public-private supply chain reform through its Economic Security Promotion Act and JOGMEC. This case underscores that critical minerals dependence is not merely a commercial issue but a strategic risk, accelerating efforts to build resilient supply chains.

[SMM Analysis: US and Europe Expand Copper Recycling Capacity as Scrap Localisation Takes Shape]The US and Europe are expanding recycling capacity and tightening resource policies to retain more copper scrap locally. Aurubis projects in Hamburg and Georgia will increase complex-feedstock processing, while export controls may further limit trade flows. Asian buyers could face higher payabilities, longer lead times and tighter supply.

[SMM Analysis: South Korea Plans Tighter Copper Scrap Export Declarations—Could Asian Trade Flows Shift?] South Korea plans to require export declarations for ferrous and non-ferrous scrap from 2027. The move targets misdeclaration rather than restricting legal trade. With China, Malaysia and Thailand taking 95.86% of 2025 exports, impacts should be limited for compliant high-grade cargoes but greater for mixed and complex scrap.

Aluminium is often described as one of the most recyclable industrial materials, and the UK already has much of the infrastructure needed to support a circular aluminium economy. Collection systems are well established, recycling rates are strong, and remelting capacity exists across the supply chain. According to Nadine Bloxsome, CEO of the Aluminium Federation (ALFED), the challenge is no longer whether aluminium can be recycled, but whether the UK is keeping enough of the value created from that recycled material. ALFED estimates that recycling aluminium requires up to 95 per cent less energy than producing primary metal, making it an important contributor to industrial competitiveness as well as the country's net-zero ambitions. Despite this, the UK continues to rely heavily on imported primary aluminium. Around 68,000 tonnes were imported from the UAE, Bahrain, Oman, Qatar and Saudi Arabia during 2025. Recent geopolitical tensions and disruptions affecting energy-intensive smelting operations in the region have highlighted the risks that come with depending on overseas supply. The UK generates large volumes of aluminium scrap every year, yet much of the material leaves the country instead of being processed locally. Aluminium scrap exports to the United States increased from around 2,000 tonnes in 2024 to more than 23,000 tonnes in 2025, while total exports under HS Code 7602 rose from about 612,000 tonnes to more than 623,000 tonnes. During the same year, the UK also imported around 90,000 tonnes of aluminium scrap, showing that the issue is not a shortage of material but where that material is processed and where its value is ultimately created.

Japan imported 35,794 tones of aluminum scrap in Q1 2026, including 3,613 tones from the European Union, up 89% year-on-year and accounting for 10.09% of total imports. Import value from the EU reached US$3.26 million, up 45.5% YoY. The EU ranked as Japan's third-largest aluminum scrap supplier, behind the United States (15,907 tones) and Taiwan (8,187 tones). EU aluminum scrap exports to Japan also increased to 9,346 tones in 2025 from 5,815 tones in 2024, highlighting growing trade flows between the two markets.