SUNSHINE RecycleFlash Weekly: November 2-6, 2026

November 06, 2026

Gold Heads for Strong Weekly Gain

Gold slipped below $4,050 an ounce on Friday but was still on track to gain more than 4% for the week following a sweeping Democratic victory in the US midterm elections. Markets expect Democrats to push for an end to the Iran conflict, which could drive oil prices lower, ease inflationary pressures and reduce the likelihood of more aggressive interest rate hikes. Investors also anticipate that a divided government could constrain President Donald Trump’s fiscal agenda, limiting additional government spending and borrowing while further easing inflation concerns. Meanwhile, the global equity selloff intensified amid fears that Democrats could impose stricter regulations on the artificial intelligence industry and curb data center expansion, prompting some liquidity-driven selling in precious metals. However, these pressures were offset by stronger demand for safe-haven bonds, which pushed yields lower and supported demand for non-yielding assets such as gold. (Source: Trading Economics)

Silver Languishes at 11-Month Lows

Silver prices declined toward $51 an ounce on Friday, sinking to the lowest since November 2025 as persistent inflation and resilient economic growth in the US reinforced expectations of a potential Federal Reserve rate hike later this year. The US PCE price index increased 0.5% month-on-month in September, marking its biggest rise since March, while annual inflation accelerated to 3.6%. Core PCE inflation also climbed to 3.1% year over year. Meanwhile, US GDP expanded at an annualized rate of 3.4% in the third quarter, exceeding expectations of 3.2%, supported by resilient consumer spending and strong AI-related investment. The Federal Reserve kept interest rates unchanged on Wednesday ahead of next week’s US midterm elections, although markets continue to assign roughly a 75% probability of a rate hike in December, according to the CME FedWatch Tool. Silver is on track to decline about 15% in October, potentially recording its second consecutive monthly loss.(Source: Trading Economics)

Copper Extends Fall on Tech Selloff

Copper futures fell toward $6.5 per pound on Friday, sliding for the second straight session as disappointing earnings updates triggered another selloff in tech and AI stocks. The metal plays a crucial role in the global AI expansion due to its extensive use in data centers and power infrastructure, leaving prices particularly sensitive to shifts in technology market sentiment. Investors also grew increasingly concerned about a potential Fed rate hike later this year following hot PCE inflation data and persistent energy-driven price pressures. Despite the recent pullback, copper continued to receive support from tightening physical supplies in China, the world’s largest consumer of the metal, as reflected in rising import premiums. This trend underscores growing competition for copper supplies both within and outside China, as earlier concerns over potential US import tariffs prompted traders to redirect shipments toward American warehouses, reducing availability in other markets.(Source: Trading Economics)

Eastman Restores $375 Million DOE Funding to Expand U.S. Polyester Recycling Operations

Eastman Chemical Company has secured the reinstatement of a $375 million award from the U.S. Department of Energy (DOE), restoring federal support for its domestic polyester recycling operations. Approximately $35 million had already been received under the previous agreement to cover design and engineering work. The revised investment strategy will focus on improving existing facilities and bringing underutilized recycling assets back into operation rather than relying entirely on new construction. At its commercial-scale methanolysis facility in Kingsport, Tennessee, Eastman expects process improvements and the removal of production bottlenecks to increase output by approximately 30%. The company also projects up to $100 million in additional revenue growth from the facility in 2026 compared with 2025, followed by more than $100 million in further growth in 2027. Methanolysis technology enables the recovery of difficult-to-recycle polyester materials, including colored and opaque plastics, trays and mixed-format packaging, producing recycled materials suitable for high-quality applications. (Source: Eastman Chemical Company)

Polysmart Invests $60 Million to Expand Nigeria's Food-Grade rPET Recycling Capacity

Polysmart Packaging Limited has commissioned the first phase of its expanded food-grade recycled polyethylene terephthalate (rPET) facility in Mowe, Ogun State, following a $60 million investment. The facility is designed to process up to 100,000 tonnes of post-consumer PET bottles annually, producing approximately 60,000 tonnes of food-grade rPET and 20,000 tonnes of other recycled plastics at full capacity. To secure sufficient feedstock, Polysmart currently operates 25 aggregation centres across eight Nigerian states and plans to establish another 250 centres nationwide within two years. The company estimates that Nigeria consumes approximately 600,000 tonnes of virgin PET annually and expects domestic recycled resin production to reduce reliance on imports. The project is also expected to create around 1,000 direct jobs and more than 50,000 indirect employment opportunities across collection, transportation and processing. Equipment supplied by EREMA, SOREMA and TOMRA supports the facility's sorting and recycling operations, with processes designed to meet applicable food-contact requirements. (Source: Polysmart Packaging Limited)

Aperam Calls for Stronger EU Controls on Recyclable Metal Exports

Aperam has called on European policymakers to strengthen proposed controls on recyclable material exports to non-OECD countries under the revised EU Waste Shipment Regulation (EU) 2024/1157. In a statement issued on October 28, the stainless steel producer and recycler urged the European Commission to adopt the proposed measures by November 21, 2026, arguing that recovered metals are essential raw materials for European manufacturing. Recycled metals account for approximately 80% of the metallic inputs used in European stainless steel production, making scrap availability particularly important for the sector's competitiveness and decarbonization efforts. Aperam also warned that regulatory loopholes could undermine the effectiveness of export restrictions, including the use of End-of-Waste classifications or indirect shipments through OECD countries. The company called for strict environmental standards for importing countries, effective customs enforcement and the avoidance of transitional export quotas. It also urged the EU to recognize stainless steel scrap as a strategic secondary source of nickel and chromium under its circular economy and Critical Raw Materials policies. (Source: Aperam)

U.S. Steel Invests $1.9 Billion in Arkansas Direct Reduced Iron Facility

U.S. Steel has broken ground on a $1.9 billion direct reduced iron (DRI) facility at its Big River Steel Works campus in Osceola, Arkansas, expanding its supply of iron-based raw materials for electric arc furnace (EAF) steelmaking. The plant will be located alongside Big River 2, allowing hot DRI to be transferred directly into existing furnaces. Unlike conventional blast furnace production, direct reduction removes oxygen from iron ore without melting it, creating an iron-rich material that can also be processed into hot briquetted iron for easier transportation and storage. The company expects the project to create approximately 200 permanent jobs, with construction employment reaching around 2,000 positions at peak. Site preparation is underway, and construction is expected to begin in late 2026. The investment will connect U.S. Steel's Minnesota iron ore operations with its Arkansas steelmaking facilities, giving the company greater flexibility in sourcing metallic inputs. DRI can serve as an alternative to prime scrap in certain EAF applications, potentially influencing demand for different grades of ferrous scrap. (Source: U.S. Steel)

Gold Fields Receives Environmental Approval for Canada's Windfall Gold Project

Gold Fields has received a Certificate of Authorization from Quebec's Ministry of the Environment for its Windfall gold project in the Eeyou Istchee James Bay region of Canada, completing a major stage of the project's environmental and social impact review. The proposed mine is expected to produce approximately 300,000 ounces of gold annually once fully operational, with previous development capital estimates ranging from US$1.7 billion to US$1.9 billion. The approval follows several years of environmental studies and consultation with local and Indigenous communities. In June 2026, Gold Fields signed an Impact and Benefit Agreement with the Cree First Nation of Waswanipi and other Cree governing bodies, establishing arrangements for cooperation and economic benefits as development progresses. The company plans to remobilize personnel and equipment and resume underground activities. However, a mining lease and additional permits are still required before development can proceed fully. Gold Fields expects to advance its final investment decision by February 2027. (Source: Gold Fields Limited)

California Updates SB 54 Plastic Reduction Targets and Producer Reporting Requirements

California's Department of Resources Recycling and Recovery (CalRecycle) has updated the baseline used to measure plastic packaging reductions under Senate Bill 54 (SB 54), replacing earlier model-based estimates with information reported directly by producers. The legislation requires a 25% reduction in single-use plastic packaging and plastic food service ware by January 1, 2032, compared with 2023 levels. Interim targets call for reductions of 10% by 2027 and 20% by 2030, with reuse, refill or elimination measures contributing at least 2%, 4% and 10% of the respective reduction targets. Producers can also meet requirements through reusable packaging systems, material substitution and reductions in packaging weight or size. Up to 8% of the source reduction requirement may be met through postconsumer recycled content under CalRecycle's approved compliance formula. The state's Producer Responsibility Organization (PRO) is collectively responsible for achieving the targets, while individual producers must report the weight and number of covered plastic components sold or distributed in California. CalRecycle plans another baseline update in November 2027, followed by review of the first annual compliance report in July 2028. (Source: CalRecycle)

Sonoco Invests $40 Million to Expand Recycled Paperboard Production in Virginia

Sonoco Products Company plans to invest $40 million over the next two years to modernize and expand its uncoated recycled paperboard (URB) mill in Richmond, Virginia. The project is expected to increase annual production capacity by approximately 9,000 tons while improving manufacturing efficiency and product quality. Construction is scheduled to begin in early 2027 and will be completed in two phases. Initial upgrades will focus on sheet formation, profile control, density and cleanliness, followed by improvements to pulping operations, water systems and automation. The Richmond facility currently produces approximately 120,000 tons of paperboard annually, and Sonoco expects to maintain this output throughout construction. Its products are used in paper can packaging and lightweight Tan Bending Chip (TBC) applications. Sonoco operates 10 paperboard mills and 16 paper machines across the United States and Canada, producing approximately 1.2 million tons of TBC paperboard annually. The investment will expand the company's existing recycled fiber processing capacity, while improvements to pulping and water systems are expected to support more efficient use of recovered paper and consistent product quality. (Source: Sonoco Products Company)

AISI: U.S. Steel Shipments Fall 2.1% in September Despite Year-to-Date Growth

U.S. steel mills shipped approximately 8.05 million net tons (NT) of steel in September 2026, down 2.1% from August, according to the American Iron and Steel Institute (AISI). However, shipments remained slightly above the 8.03 million NT recorded in September 2025, while cumulative deliveries for the first nine months reached 72.01 million NT, an increase of 4.8% from the same period last year. Performance varied among major product categories, with corrosion-resistant sheet and strip shipments rising 10% year over year and hot-rolled sheet and strip increasing 8%. Cold-rolled sheet shipments, meanwhile, declined 0.6%. The figures indicate that U.S. steel deliveries have maintained overall growth in 2026 despite a monthly slowdown in September. For the scrap industry, shipment trends provide a useful indicator of steel market activity, although actual scrap demand also depends on mill production levels, inventory conditions and raw material purchasing patterns. (Source: American Iron and Steel Institute)

rPlus Energies Secures $450 Million Credit Facility for Solar and Storage Projects

U.S. renewable energy developer rPlus Energies has secured a revolving credit facility of up to $450 million to support the development and construction of solar and energy storage projects across the American West. The three-year financing was arranged by Canadian Imperial Bank of Commerce (CIBC), which also serves as administrative agent, with participation from National Bank of Canada, Truist Bank, KeyBank, Wells Fargo, MUFG and Zions Capital Markets. The facility is supported by cash flows from nearly 1 GW of operating assets, including the Green River Energy Center and Pleasant Valley Solar 2, both of which reached commercial operation earlier in 2026. The financing will provide additional flexibility for project development, construction and related financial commitments. Continued expansion of solar and battery storage infrastructure will also increase the long-term demand for materials such as steel, aluminum and copper. As these facilities and their associated equipment eventually reach the end of their operating lives, opportunities may emerge for photovoltaic panel recycling, battery material recovery and metal processing. (Source: rPlus Energies)

Indian Metal Recyclers Warn of Impact From Proposed EU Scrap Export Restrictions

Indian metal recyclers have warned that proposed European Union restrictions on scrap exports could disrupt international material flows and affect recycling operations. The issue was raised at the Bureau of International Recycling (BIR) World Recycling Convention in Malaga, Spain, on October 27. Under the revised EU Waste Shipment Regulation (WSR), India, Malaysia and Vietnam are excluded from the provisional list of non-OECD countries eligible to receive certain waste shipments. The final list is expected on November 21, 2026, with new export requirements scheduled to take effect on May 21, 2027. Dhawal Shah of India's Metco Ventures said the restrictions could create an imbalance in EU-India trade, particularly if processed aluminium and copper products continue entering India while scrap shipments face tighter controls. Industry representatives also cited Argentina's experience with ferrous scrap export restrictions introduced in 2009, which were associated with price distortions, weaker collection activity and reduced recycling investment. BIR participants argued that expanding recycled-content requirements and investment in processing infrastructure would be more effective ways to strengthen recycling markets than limiting access to international scrap trade.(Source: BIR)

California Updates SB 54 Requirements for Plastic Packaging Reduction and Producer Reporting

California has updated its implementation framework for Senate Bill 54 (SB 54), requiring producers to reduce single-use plastic packaging and food service ware while strengthening reporting requirements. According to the California Department of Resources Recycling and Recovery, the law sets a statewide reduction target of 25% by January 1, 2032, measured against 2023 levels. Interim targets require a 10% reduction by 2027 and 20% by 2030, with minimum contributions from reuse and refill systems of 2% and 4%, respectively. By 2032, at least 10% of the reduction must come from reuse, refill, or elimination measures. Producers can also reduce plastic use through material substitution, lightweighting and packaging redesign, while up to 8% of the reduction requirement may be met through postconsumer recycled content under a compliance formula approved by CalRecycle. The Producer Responsibility Organization (PRO) is collectively responsible for meeting the statewide targets, while individual producers must participate in the program and report the weight and number of covered plastic components sold or distributed in California. CalRecycle's November 2026 baseline update uses producer-reported data for the first time, replacing the earlier model-based estimates. The department plans another update in November 2027, with the first annual compliance report scheduled for review in July 2028. (Source : CalRecycle)