High copper prices sink big UK metal recycler

Leading UK metal recycler CF Booth has gone into administration, blaming the recent sharp rise in copper prices.

Founded in Rotherham in the 1920s, CF Booth grew to become one of the largest independently run metal recycling companies in Europe. The family owned business employed 168 staff, and traded in both ferrous and non-ferrous metals, as well as processing recycled materials for customers across the UK and beyond.

Redundancies

Operations at Rotherham have ceased while the administrators Interpath explore options for a possible sale. Fifty-four members of staff have been retained to assist the joint administrators while a further 114 have been made redundant.

According to a press release from Interpath, the company had experienced significant trading difficulties, exacerbated by rising energy and copper prices, as well as increases to the National Living Wage and the impact of environmental legislation, VAT and regulatory pressures.

It was fined £1.2m (EUR 1.38 million) in 2024 after a worker was hit by a 32-tonne skip wagon.

No solutions

Interpath says the directors sought a sale and reinvestment but no solvent outcomes were available. Md James Lumb and joint administrator note: ‘CF Booth has a long and storied heritage in South Yorkshire, not least for its role as one the largest rolling stock recyclers in the country, working with several of the main rail operating companies.

‘However, as one of the largest manufacturers of copper-based products in the UK, the company has also been hit hard by the tremendous surge in copper prices seen over recent months. This, coupled with broader economic headwinds, placed unsustainable pressure on cashflow.’

The joint administrators are asking any parties interested in buying the company and its assets to make contact via [email protected]