SUNSHINE RecycleFlash Weekly: May 5-9, 2025

May 09, 2025

Gold Rebounds on Dip Buying; US-China Trade Talks in Focus

Gold prices firmed on Friday as investors bought bullion following an earlier dip in the session, while markets turned their focus to U.S.-China trade talks this weekend. Spot gold was up 0.3% to $3,316.29 an ounce, as of 0448 GMT. U.S. gold futures firmed 0.5% to $3,321.60. Spot gold retreated earlier in the session, touching a low of $3,274.38, as U.S. President Donald Trump announced a trade deal with the UK on Thursday. Trump and British Prime Minister Keir Starmer announced a “breakthrough deal”. A 10% tariff on goods imported from the UK remains in place, while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to U.S. goods. “Buying gold on dips is still in vogue, which is so far limiting the downside moves despite safe haven demand drying up to a degree on the U.S.-UK trade deal,” KCM Trade Chief Market Analyst Tim Waterer said. “How the U.S.-China trade talks develop could be key in determining which side of $3,300 gold trades at next week.” Trump also said he expects there to be substantive negotiations between the U.S. and China on trade this weekend and predicted that punitive U.S. tariffs on Beijing of 145% would likely come down. (Source: Reuters)

Gold Rises, According to FXStreet Data

Gold prices rose in India on Friday, according to data compiled by FXStreet. The price for Gold stood at 9,149.95 Indian Rupees (INR) per gram, up compared with the INR 9,122.89 it cost on Thursday. The price for Gold increased to INR 106,724.40 per tola from INR 106,407.60 per tola a day earlier. (Source: FXStreet)

Russian Steel Pipe Prices Hit Two-Year Low Amid Weak Demand

Steel pipe prices in Russia have fallen to their lowest levels in two years, driven by weak domestic demand and excess production capacity. By mid-April, water and gas pipes were priced at RUB 64,600 per ton, the lowest since July 2023, while electric-welded pipes dropped to RUB 63,300 per ton, their lowest since March 2023. The downturn has affected nearly all segments of the steel pipe market. Production of small and medium diameter (SMD) structural pipes declined by 18% in Q1 2025, while consumption fell by 14%. Shaped pipes saw a 5% drop, general-purpose pipes declined by 7%, bearing pipes plunged 28%, and stainless pipes fell 6%. The only exception was boiler pipes, which recorded an 8% increase in demand. Industry analysts attribute the price slump to a combination of factors, including high logistics costs and low profitability in the individual housing sector, which has limited flexibility for large manufacturers. Smaller plants located closer to end users have fared better, avoiding some of the financial strain faced by larger producers. (Source: SteelRadar)

Goldman Sachs Raises Copper Price Forecasts for Q2 and Q3

Goldman Sachs has significantly revised its copper price forecast for 2025, signaling important shifts in the global metals market. The investment bank recently increased its Q2 2025 projection to $9,330 per tonne from the previous $8,620, representing an 8.2% upward adjustment. Similarly, the Q3 forecast saw a substantial boost to $9,150 per tonne from $8,370, reflecting growing confidence in copper’s near-term strength. (Source: Discovery Alert )

H&M-Backed Syre to Build “Gigascale” Textile-to-Textile Recycling Plant in Vietnam

Circular economy startup Syre announced that it has signed an agreement with the province of Binh Dinh, Vietnam with the intention to establish the company’s first “Gigascale” textile-to-textile recycling plant in the province. Founded in 2024, Syre was launched by fashion and design brands company H&M Group and impact-focused venture investor Vargas, to enable the mass production of textile-to-textile recycled materials, and provide a closed loop solution for the clothing industry. Syre aims to support the decarbonization and waste reduction efforts of the textile industry through recycling, starting with Polyester, which accounts for up to 40% of the sector’s emissions. The company raised $100 million in a Series A financing round last year, announcing that the capital will be used to finance the construction of a new blueprint plant in the U.S., and to establish its first gigascale textile-to-textile recycling plants. According to Syre, a gigascale plant will be designed to produce 100,000-250,000 metric tons of circular polyester annually. The company said that Vietnam was chosen for the plant due to its strategic positioning within the textile supply chain. (Source: ESG Today)

British Steel to Hire More Staff Weeks After Government Rescue

British Steel has said it will hire more than 180 new employees, as it prepares to ramp up iron and steel production for the first time since its government rescue. The company has started recruiting for 165 roles in Scunthorpe and a further 17 at its operations in Teesside and Skinningrove, to support production at its two blast furnaces. It comes less than a month after ministers recalled parliament to approve emergency legislation to take control of the site and continue production, amid concerns that British Steel’s Chinese owner, Jingye, planned to let its furnaces run cold. There had been the prospect of imminent closure of the blast furnaces and the end of production of primary steel in the UK, with up to 2,700 steelworkers at Scunthorpe at risk of redundancy. British Steel removed the threat of job losses a fortnight ago after the government’s intervention. (Source: The Guardian)

US Judge to Rule by May 14 on Rio Tinto Copper Project

A US federal judge said he will rule by May 14 on whether to block the Trump administration from transferring Arizona land to Rio Tinto and BHP to build a major copper mine opposed by Native Americans. The long-running and complex legal case pits the religious rights of Arizona’s San Carlos Apache people against rising demand for copper for the energy transition and the geopolitics of China’s wide control over the critical minerals industry. The dispute centers on the federally owned Oak Flat Campground where many Apache worship their deities. The site sits atop a reserve of more than 40 billion pounds (18.1 million metric tons) of copper, a crucial component of electric vehicles and nearly every electronic device. Rio and BHP’s Resolution Copper project would, if built, cause a crater 2 miles (3 km) wide and 1,000 feet (304 m) deep that would slowly engulf that worship site. US District Judge Steven Logan, who ruled in favor of the land transfer in 2021, held a nearly two-hour hearing on Wednesday to consider a fresh request that he block the land transfer temporarily while the US Supreme Court deliberates. (Source: Reuters)

From Solar to Circularity: Commercial Solar Panel Recycling Cuts the Ribbon on NJ’s First PV Recycling Center

Commercial Solar Panel Recycling (CSPR) celebrated the grand opening of its New Jersey headquarters and flagship solar panel processing facility with a ribbon-cutting ceremony on April 29, 2025. This milestone marks the launch of the state’s first dedicated solar panel recycling site, positioning New Jersey at the forefront of renewable energy lifecycle management in the Northeast. The Phillipsburg facility anchors CSPR’s growing national network, which includes operational centers in Canajoharie, New York, and Atwater, California. The ribbon cutting is a step in addressing the growing volume of solar waste as panels reach the end of their useful life. With landfill space dwindling, responsible recycling solutions are urgently needed across New Jersey and the U.S. In November 2024, CSPR was granted a Research, Development, and Demonstration (RD&D) permit by the New Jersey Department of Environmental Protection (NJDEP)—the first permit of its kind specific to PV recycling. (Source: Commercial Solar Panel Recycling)

Top Indian Court Scraps JSW Steel’s Bid to Acquire Bhushan Power, Case Lawyers Say

India’s top court on Friday rejected JSW Steel’s resolution plan to acquire Bhushan Power and Steel four years after the takeover was completed, and ordered the liquidation of the debt-ridden firm, two lawyers involved in the case said. The insolvency administrator and the lenders panel, which ran the insolvency process, failed to discharge their duties in line with the law, one of the lawyers said, citing the Supreme Court’s verbal order. According to two lawyers involved in the case, who requested anonymity, the Supreme Court delivered a verbal order stating that the insolvency administrator and the lenders’ panel did not adhere to legal obligations. The full judgment is expected to be detailed on the court’s website, the report said. The decision’s rationale was not immediately disclosed. However, a report by CNBC-TV18 quoted the Supreme Court labelling JSW Steel’s acquisition plan as “illegal” and that it should not have been approved by Bhushan Power’s committee of creditors. Following the announcement, JSW Steel’s stock price fell by nearly 7%. (Source: Reuters)

SSAB Secures Major Green Financing for Fossil-Free Steel

SSAB, a Nordic and U.S.-based steel manufacturer, aims to create a stronger, lighter, and more sustainable world with its value-added steel products and services. The company has secured €2.3 billion in green financing to support its transformation project, which includes constructing a cutting-edge, fossil-free mini-mill in Luleå, Sweden. SSAB states that this transformation project is crucial for repositioning its European operations as a producer of premium steel products, cutting production costs, and significantly reducing CO2 emissions. The €2.3 billion green financing package is backed by the Swedish National Debt Office (Riksgälden), the Italian Export Credit Agency (SACE), and the Nordic Investment Bank, with Crédit Agricole CIB structuring the deal. SSAB decided on the EUR 4.5 billion investment in its new steel mill in Luleå during 2024 and has now signed three green loan facilities, all of which have a long-term maturity structured to support the full lifecycle of the project. The loans are structured under the Green Loan Principles, and aligns with SSAB’s Green and Sustainability-linked Finance Framework. (Source: Steel Times International)

Steelmaker Cleveland Cliffs to Idle 3 Steel Plants in Pennsylvania and Illinois

Steelmaker Cleveland-Cliffs will indefinitely idle three steel plants this summer, saying that it is being buffeted by sluggish demand and pricing for some products, including high carbon steel sheets. The company said the idling of two Pennsylvania plants, one in Steelton and one in Conshohocken, and one in Riverdale, Illinois, is due to “insufficient demand and pricing” and nothing to do with President Donald Trump’s tariffs. “These temporary, indefinite idles are a necessary response to insufficient demand and pricing for the products the affected facilities produce, including rail, specialty plate, and high-carbon sheet; all of which fall outside of Cliffs’ core business focus,” the company said. The idlings will be indefinite, and start around June 30, at the end of a 60-day notice period required by federal law. About 950 workers will be out of work during the shutdowns, Cleveland Cliffs said. It said its flat-rolled steel production levels will not be affected. (Source: AP News)

Circular Materials Celebrates the Expansion of Recycling Across New Brunswick

Circular Materials announced a significant milestone in its expansion of New Brunswick’s extended producer responsibility (EPR) program for packaging and paper, effective May 1, 2025. This latest phase extends recycling to multi-family residences, schools and communities that were previously depot-based or without any recycling services. With this expansion, all communities in New Brunswick now have curbside recycling. “New Brunswick is leading the way as the first Atlantic province to transition to extended producer responsibility for packaging and paper, and we are proud to continue the important progress in the province,” said Allen Langdon, CEO of Circular Materials. “This expansion reflects the power of collaboration—between producers, governments, First Nations, and communities—to build a strong circular economy that benefits all New Brunswickers.” (Source: Circular Materials)

Ace Green Recycling Secures Agreement with OM Commodities to Supply Flagship Texas Facility

Ace Green Recycling announced that it has secured a battery material supply agreement with OM Commodities, a leading global commodities trading firm that specializes in trading ferrous and non-ferrous scrap, primary metals and residues. As part of the agreement, OM Commodities will supply Ace with at least 30,000 metric tons of lead scrap annually, which the Company expects to recycle at its planned flagship facility in Texas with production expected to commence in 2026. The level of feedstock is sufficient to cover 100% of Ace’s phase one recycling capacity at its future Texas facility. The agreement is for a term of at least 15 years and provides Ace with the option to obtain more supply from OM Commodities as Ace scales up its recycling operations. The Company and OM Commodities are in active discussions for future lithium battery recycling collaborations. (Source: Ace Green Recycling)

Kingspan and Hydnum Steel Collaborate on New Green Steel Initiative

Kingspan Group and Hydnum Steel are collaborating on a new green steel initiative aimed at decarbonising the construction sector and promoting sustainability in building materials. The collaboration will see Hydnum Steel, based in Puertollano, Spain, supply Kingspan with green steel, reinforcing Kingspan’s commitment to reducing the environmental impact of building materials as part of its Planet Passionate environmental sustainability programme. The alliance promotes the adoption of green steel as an alternative when constructing buildings and aims to reinforce the role of the steel industry in the transition towards climate neutrality. (Source: Roofing Today)

Republic of Poland Offers Ascend Elements Up to USD $320 Million to Support Construction of Lithium-ion Battery Materials Plant in Poland

The Ministry of Economic Development and Technology in Poland today offered Ascend Elements up to USD $320 million to support construction of a sustainable precursor cathode active material (pCAM) manufacturing facility in Poland. pCAM is a high-value, precisely engineered material used in the manufacture of lithium-ion batteries for electric vehicles and other advanced industrial applications. The cash subsidy of 1.22 billion Polish Zloty (PLN) is one of the largest grants ever offered by the Republic of Poland. As part of the E.U.’s Temporary Crisis and Transition Framework (TCTF), the grant is designed to support Europe’s transition to a net-zero economy. (Source: Ascend Elements)

Trump, Starmer Hail Limited US-UK Trade Deal, But 10% Duties Remain

U.S. President Donald Trump and British Prime Minister Keir Starmer on Thursday announced a limited bilateral trade agreement that leaves in place Trump's 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports. The “general terms” agreement is the first of dozens of tariff-lowering deals that Trump expects to land in coming weeks after upending the global trading system with steep new import taxes aimed at shrinking a $1.2 trillion U.S. goods trade deficit. (Source: Reuters)

Woodsy Owl Returns To Lead National Recycling And Battery Safety PSA Campaign

The National Waste & Recycling Association (NWRA) announced a new national licensed partnership with the U.S. Forest Service to launch a public service campaign featuring Woodsy Owl—America’s iconic conservation mascot—focused on safe battery recovery, responsible recycling, and restoring public trust that “Recycling is Real.” Unveiled during NWRA’s Annual Awards Gala at WasteExpo 2025, the campaign marks a powerful moment of industry leadership as lithium-ion battery fires continue to threaten waste and recycling operations nationwide. The campaign is being developed through a licensing agreement with the U.S. Forest Service and is rooted in extensive message testing conducted by NWRA. It will officially launch to the public in August 2025, coinciding with the start of the school year. (Source: NWRA)