SUNSHINE RecycleFlash Weekly: May 19-23, 2025

May 23, 2025

Gold Heads for Biggest Weekly Jump in 1-1/2 Months on US Fiscal Worries

Gold prices rose on Friday and were poised for their biggest weekly gain in more than a month, as a softer U.S. dollar and concerns over the country’s fiscal outlook boosted bullion’s safe-haven appeal. Spot gold was up 1.1% at $3,329.69 an ounce as of 0654 GMT. Bullion has risen 4% this week, its highest since April 7. (Source: Reuters)

Gold Prices Rise, Head for Positive Week Amid Bond Market Turmoil

Gold prices rose in Asian trade on Friday and were headed for a positive week as safe-haven demand was elevated by a sell-off in U.S. Treasuries, amid heightened concerns over high government debt. The yellow metal also benefited from some talk of worsening conditions in the Middle East, especially between Israel and Iran, although these concerns were quelled by the U.S. announcing more nuclear talks with Tehran. Spot gold rose 0.8% to $3,320.68 an ounce, while gold futures for June rose 0.8% to $3,320.49/oz by 01:27 ET (05:27 GMT). Spot gold trading higher than futures also signaled that near-term demand for gold was strong. (Source: Investing.com)

Tin Extends Increase to 1-Month High

Tin futures rose to $32,900 per tonne in May, the highest in over one month, amid the recovery of trade flows in China and threats to supply. The US and China lowered their tariffs against each other to ease concerns of a trade war and support manufacturing purchasing in key manufacturing sectors. Factories were also supported by the PBoC lowering loan prime rates and liquidity rates to stimulate demand. On the supply front, officials in Myanmar’s Wa State signaled their openness to reissue tin mining quotas following their prolonged suspension of activity, but delays since aggressive earthquakes hit the region prolonged the halt of production. In the meantime, new data from China indicated that refined tin output in China fell more than 8% annually in April due to lower operating rates. On the other hand, major producer Alphamin Resources restarted operations in its tin mine in the DR Congo, after earlier insurgency by militant groups had forced workers to evacuate the area. (Source: Trading Economics)

Rhodium Prices to Outperform Platinum and Palladium in 2025, Metals Focus Says

Average prices for platinum and rhodium are expected to rise by 1% and 8%, respectively, this year, while palladium will see a 5% price reduction, consultancy Metals Focus said on Monday. The basket price of the platinum group metals (PGMs), which are chiefly used in vehicle exhausts to neutralize harmful engine emissions, has been under pressure from expansion of electric vehicles in recent years, tightening miners’ margins. While above-ground stocks remain plentiful for most PGMs metals, rhodium’s 2025 deficit will reduce these stocks by 23% to 349,000 troy ounces, their lowest in at least 40 years and equal to four months of demand, Metals Focus said in a report. Rhodium, which has a history of sharp price swings, is up 20% so far this year due to lower production in South Africa. (Source: Reuters)

Canadian Battery Recycler Li-Cycle Files for Bankruptcy Protection

Battery recycling firm Li-Cycle has filed for bankruptcy protection in Canada and is likely to start a formal sale for its business or assets, according to a Reuters report. The Toronto-based lithium battery recycling company’s US units have also started proceedings in the US Bankruptcy Court for the Southern District of New York, the Reuters report said. Li-Cycle has entered into a USD 10.5 million debtor-in-possession financing and a stalking horse credit bid, for some of its subsidiaries and assets, for at least USD 40 million with Glencore, its largest secured creditor. Those entities include Li-Cycle North American Hub, which owns the Rochester Hub facility on McLaughlin Road, Greece, New York. In March, Li-Cycle revealed it was seeking buyers for its business or assets, with the additional funding needed to maintain operations. It filed for bankruptcy protection under Chapter 15 and the Companies’ Creditors Arrangement Act, a Canadian law that permits insolvent corporations to restructure their business and financial affairs, the Reuters report said. (Source: Reuters)

Nathan Trotter to Work with Trinity Metals on US Tin Supply Chain

US tin producer Nathan Trotter has signed a letter of intent (LOI) with Rwandan tin miner Trinity Metals to build a US-Rwandan tin supply chain. Nathan Trotter, who last year received a US$20 million grant from the US Department of Defense to expand operations and restart primary tin smelting in the US, met with Trinity Metals at the US State Department to sign the LOI. This followed a US$3.9 million funding package for Trinity Metals from the US International Development Finance Corporation in 2024, with Trinity presenting itself as an opportunity to secure alternative supply chains of critical minerals. Trinity Metals, established as a merger between three Rwandan mining companies with equity backing from Techmet. Trinity operates the Rutongo and Musha tin mines, and is the country’s largest producer, contributing almost half of Rwanda’s estimated 3,200 tpa tin output. (Source: International Tin Association)

Jinkosolar Establishes First State-Approved Solar Panel Recycling Takeback Program in Washington

JinkoSolar’s proprietary takeback-and-recycling program for end-of-life solar panels, EAGLE Preserve, has become the first stewardship program to receive approval from the Washington State Dept. of Ecology. The Pacific Northwest state created the Photovoltaic Module Stewardship and Takeback Program in 2017, and Washington Gov. Bob Ferguson signed a law earlier this month that requires panel manufacturers to have a stewardship plan by 2030. EAGLE Preserve will pick up end-of-life modules registered with the Stewardship Program from commercial and utility project sites in Washington and ensure they are recycled in a sustainable way, giving solar power customers in Washington their very first turnkey recycling solutions provider. The EAGLE Preserve Stewardship Program starts July 1 this year. (Source: Solar Power World)

LME Approves Three More Warehouse Facilities for Hong Kong

The London Metal Exchange (LME) has approved an additional three warehouse facilities for Hong Kong, taking the total to seven, the Hong Kong Stock Exchange (HKEX) chief said on Wednesday. Approving warehouses in China to store LME traded metal has been a strategic goal since Hong Kong Exchanges and Clearing bought the LME in 2012. LME first approved Hong Kong warehouses in January, after more than a year of work. The first four are set to start operating in July. (Source: Reuters)

Hydro to Close Birtley Extrusion Plant in the UK

Due to challenging market conditions, Hydro is closing its Birtley extrusion plant in the United Kingdom. Following a consultation process with employees and their representatives, the Birtley plant will be closed at the end of May. Around 100 people will be made redundant as a result of the closure. Efforts have been made to offer employment opportunities at other Hydro Extrusions sites in the UK as well as supporting the people leaving Hydro. The Birtley plant is a two-press operation with an annual capacity of approximately 12,000 tonnes. The closure was also communicated in connection with Hydro’s Q4 2024 results. (Source: Hydro)

Nippon Steel Boosts Investment for Proposed US Steel Deal

Nippon Steel Corp. has bolstered its pledge to invest in United States Steel Corp. in the event that President Donald Trump approves the Japanese company’s proposed $14.1 billion takeover, according to people familiar with the matter. Nippon Steel is now offering to build a new steel mill, save existing steelworker jobs and potentially add many more unionized roles, said the people, who asked not to be identified because the latest plan hasn’t been published. The higher investment commitment was negotiated by the Trump administration, they said. It’s still not clear whether Trump will ultimately approve the deal, they said. (Source: Bloomberg News)

Rio Tinto Partners with Codelco to Develop Lithium Project in Chile’s Salar de Maricunga

Rio Tinto and Corporación Nacional Del Cobre de Chile have signed binding agreements to form a joint venture to develop and operate a high-grade lithium project in the Salar de Maricunga in Chile. The agreement is the next step in a broader strategic partnership to strengthen both Rio Tinto’s and Chile’s positions as leading suppliers of materials for the global energy transition. Under the agreement, Rio Tinto will acquire a 49.99% interest in Salar de Maricunga SpA, through which Codelco holds its licenses and mining concessions in the Salar de Maricunga, by funding studies and development costs. Rio Tinto will invest: $350 million of initial funding into the Company towards additional studies and resource analysis to progress the project through to a final investment decision. $500 million into the Company once a decision is made to proceed with the project, towards construction costs. These milestones, subject to further studies, are targeted to occur before the end of the decade. $50 million into the Company if the joint venture achieves its aim of delivering first lithium by the end of 2030. (Source: RioTinto)

Iraq Opens Steel Plant Project as Post-Conflict Demand Surges
Iraq has commissioned a 600,000-tonne-per-year steel mill more than 10 years after the project was awarded to Italy’s Danieli Group. Industry and minerals minister Khaled Al-Najm opened the project in the southern port of Basra. The state-run Iraq news agency quoted Al-Najm as saying that the project cost nearly IQD400 ($305 million) and that it is one of several steel plants to be built in Iraq to meet surging demand for the country’s post-conflict reconstruction. Al-Najm did not mention reasons for the delay in the operation of the plant but officials said last year that the project was hampered by domestic security and political turbulence. Danieli already has a presence in Iraq as it has been awarded deals for the supply of products for the construction sector. In 2024 Iraq’s news agency reported that Danieli was awarded a contract to build a new rolling mill plant for rebar production. The project is located in the industrial area of Al-Hilla near the capital Baghdad and will have an output capacity of 500,000 tonnes per year. (Source: AGBI)

Washington Adopts Packaging EPR Law, Marking Major Recycling Reform

On May 17, 2025, Governor Bob Ferguson signed SB 5284, known as the Recycling Reform Act, into law — calling it the “biggest overhaul of our recycling system in decades.” Washington is now the seventh U.S. state to adopt a packaging extended producer responsibility (EPR) law, following Maine, Oregon, California, Colorado, Minnesota, and Maryland. With this move, the entire U.S. West Coast is now covered by packaging EPR programs. (Source: PSI)

Oregon House Passes Bill to Eliminate All Plastic Film Bags at Checkout

On Wednesday, the Oregon House passed Senate Bill 551, which would eliminate all plastic film bags at checkout at restaurants, grocery stores and other retail establishments in Oregon, with a vote of 33-19. Senate Bill 551 originally included a phase out of single-use plastic toiletries at lodging establishments and would have added utensils and condiments to Oregon’s existing straws upon request law, but those provisions were amended out in the House Committee on Climate, Energy and Environment. The bill now heads to the Oregon Senate for a final concurrence vote before heading to the governor’s desk. (Source: Environment America)

Colorado Legislature Passes Landmark Battery Stewardship Legislation

On May 8, the Colorado Legislature passed Senate Bill 25-163 (SB 25-163), the Battery Stewardship Act. The bill, which successfully passed both chambers of the legislature this week, establishes a comprehensive framework for the responsible collection, transportation, processing, and recycling of batteries throughout the state. This legislation makes Colorado the latest in a growing wave of states embracing extended producer responsibility (EPR) to manage dangerous and hard-to-recycle products. It now awaits the governor’s signature. (Source: PSI)