Metalac was established on 24 March 1948 as KK Budućnost Valjevo.[1] Six days later, the club played its first official game in Čačak against Borac and lost 69:19. In a relatively short period of time, they managed to qualify for a higher level of competition, entering the South Group of a then minor Serbian League under the new name Metalac in 1954. Due to financial problems in 1960, the club had to leave all competitions and restart from scratch again a year after.
In 1973 Metalac managed to qualify for the First Yugoslav Federal League by beating Mladost Zemun in the last round of the competition, gaining a decisive advantage over Vojvodina Novi Sad. In the last round Luka Vidacic from Herceg-Novi scored a club record of 57 points. Metalac spent six consecutive seasons in the First League and managed to beat at least once all the big clubs of Yugoslav basketball in that period. They played their last game in Yugoslav First Federal League on 31 March 1979 against Jugoplastika in Split.
During the last couple of years, professional basketball in Valjevo is on the rise again. Metalac qualified for the top level of club competition in Serbia in 2007–08 and since then managed to progress to the Basketball League of Serbia Superleague phase five times. They have constantly been a serious contender for a spot in the Adriatic League over the past few seasons and finally became part of it in 2014–15 after Radnički Kragujevac opted out because of financial instability.[2]
