SUNSHINE RecycleFlash Weekly: October 20-24, 2025

October 24, 2025

Gold Breaks 9-Week Winning Streak Ahead of US Inflation Data

Gold prices eased on Friday and were on course for their first weekly decline in nine weeks, weighed down by a stronger US dollar and investor caution ahead of key US inflation data due later in the day. Spot gold fell 0.2% to $4,116.09 per ounce as of 0504 GMT, while US gold futures for December delivery slipped 0.4% to $4,131.10 per ounce, according to Reuters. Bullion has lost about 3% so far this week, its steepest fall since mid-May as traders booked profits after a prolonged rally that drove prices to record highs earlier this month. The dollar index gained for a third consecutive session, making gold more expensive for non-US buyers and dampening sentiment. “A meeting between the US and Chinese leaders stands a decent chance of de-escalating trade tensions, which is aiding the dollar and drying up some safe-haven demand for gold,” said Tim Waterer, Chief Market Analyst at KCM Trade, as reported by Reuters. The White House confirmed that US President Donald Trump will meet Chinese President Xi Jinping next week during his Asia trip, a move that could ease trade tensions that have dragged on global growth. (Source: Financial Express)

Silver Set for Sharp Weekly Decline

Silver slipped to around $48.6 per ounce on Friday and was on track to lose over 6% for the week, as profit-taking swept through the market amid concerns that the metal may have entered overvalued territory. The recent surge was driven by strong safe-haven demand and optimism over silver’s long-term industrial use in electric vehicles, data centers, and solar power, alongside tightening inventories in London and Shanghai vaults. Meanwhile, investors monitored trade developments after the White House confirmed the Trump-Xi meeting next Thursday on the sidelines of the APEC summit. Markets also awaited a key US inflation report expected to show persistent price pressures, which is unlikely to stop the Federal Reserve from cutting rates next week but could influence its December decision if inflation surprises to the upside. (Source: Trading Economics)

JP Morgan Sees Gold Prices Averaging $5,055 per Ounce by Late 2026

JP Morgan analysts on Thursday maintained a bullish outlook on gold, forecasting prices could reach an average of $5,055 per ounce by the fourth quarter of 2026. The forecast is based on “demand assumptions that see investor demand and central bank buying averaging around 566 tons a quarter in 2026,” the bank said in a note. “Gold remains our highest conviction long for the year, and we see further upside as the market enters a Fed rate-cutting cycle,” Natasha Kaneva, Head of Global Commodities Strategy at JP Morgan, said. (Source: Reuters)

Iron Ore Pressured by Rising Inventories

Iron ore futures held below CNY 770 per ton, hovering near the lowest levels in over three months after industry data pointed to rising inventories at Chinese mills and ports. The buildup followed record-high imports in September and comes ahead of the expected launch of Guinea’s massive Simandou project. At the same time, Chinese steelmakers have reduced iron ore purchases amid uncertain demand prospects and shrinking profit margins. Meanwhile, China’s Fourth Plenum wrapped up on Thursday with the Communist Party pledging to boost domestic consumption and manufacturing while advancing tech self-reliance. Investors also monitored trade developments after the White House confirmed the Trump-Xi meeting next Thursday on the sidelines of the APEC summit. (Source: Trading Economics)

SUNSHINE RecycleFlash Weekly: October 20-24, 2025

Nvidia Backs Redwood Materials in $350 Million Raise at $6 Billion Valuation

Redwood Materials Inc., the battery recycling company founded by Tesla co-founder JB Straubel, has raised $350 million in a Series E round that values the firm at more than $6 billion, according to people familiar with the matter. The round was led by Eclipse Ventures—a Silicon Valley firm focused on industrial and manufacturing startups—and NVentures, Nvidia’s corporate venture arm, underscoring growing investor interest in the intersection of clean energy, materials, and artificial intelligence infrastructure. Redwood said the fresh capital will accelerate the expansion of its energy storage business, as well as refining capacity and engineering operations. While best known for its pioneering work in battery recycling, Redwood has been diversifying into grid-scale storage systems—a sector seeing rapid growth as data centers drive record electricity demand. (Source: Yahoo Finance)

Electra Completes Financing and Debt Restructuring, Fully Funding North America’s First Cobalt Sulfate Refinery

Electra Battery Materials Corporation announced the closing of its US$34.5 million financing and US$40 million debt equitization, marking a major transformation of its balance sheet and funding outlook. With over US$80 million now secured from investors and government commitments, Electra has obtained all the capital required to complete construction and commissioning of North America’s first cobalt sulfate refinery, a critical asset that will strengthen the region’s battery and defense supply chains. With the successful closing of these transactions and previously announced government commitments, the construction and commissioning of Electra’s cobalt sulfate refinery in Temiskaming Shores, Ontario, are now fully funded. The refinery is a flagship asset that will be the first of its kind in North America. As a fully permitted and construction-ready project, the refinery will strengthen the region’s battery and defense supply chains, playing a critical role in reshoring cobalt processing, a capability that both the US and Canadian governments have identified as essential to national security and industrial resilience. (Source: Electra Battery Materials)

Alcoa Corporation Secures Long-Term Energy Contract and Announces $60M Capital Investment in US Smelter

Alcoa Corporation announced two strategically important developments for its Massena Operations in New York: a new 10-year energy contract with New York Power Authority (NYPA) and a capital investment of approximately $60 million in the facility’s anode baking furnace, a key component of the aluminum smelting process. The 10-year energy contract provides Massena Operations with 240 megawatts of competitively priced renewable energy and will be in effect April 1, 2026, with a possibility to extend for two additional five-year terms. In addition to the contract, Alcoa is investing approximately $60 million through 2028 to rebuild and modernize the smelter’s anode baking furnace, which supplies the smelting process with anodes. This investment is made possible by the new energy contract and a grant of approximately $6 million from Empire State Development (ESD). (Source: Alcoa)

Cyclic Materials and VACUUMSCHMELZE Expand Partnership to Recycle Rare Earth Magnet Manufacturing Waste in the US

Cyclic Materials, the advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, announced an expansion of its partnership with VACUUMSCHMELZE (VAC), a leading developer of magnetic materials and solutions. The companies have signed a 10-year exclusive agreement for recycling 100 percent of the magnet production byproducts (i.e. swarf) that will be produced at VAC’s impressive new manufacturing facility in Sumter, South Carolina scheduled to begin operations at the end of 2025. This extended partnership builds on the 2024 agreement between both companies that ensures efficient recycling of critical materials used in high-performance permanent magnets. (Source: Business Wire)

Appian, World Bank Start $1B Critical Minerals Fund

UK private-equity firm Appian Capital Advisory is teaming up with the World Bank-owned International Finance Corporation (IFC) to start a $1 billion critical minerals, metals and mining fund that will be dedicated to emerging markets. Washington-based IFC will anchor the fund, contributing $100 million at first, while its IFC Asset Management unit raises additional capital, according to a statement issued Tuesday. The fund will aim to support the development of “responsible, high-impact” mining projects for commodities essential to economic growth, the energy transition and key digital technologies. Managed by London-based Appian, the fund will target equity, credit and royalty investments across emerging markets, with a focus on Africa and Latin America. It will finance mineral development projects across all stages, including construction, production and expansion. It’s the first mining-focused vehicle created solely to invest in emerging markets. (Source: Mining.com)

Georgia-Pacific to Shut Down GP Cellulose Memphis Mill

Georgia-Pacific’s fiber and pulp subsidiary GP Cellulose will permanently close the Memphis Cellulose cotton linter pulp mill and the Technology and Innovation Center in Memphis, Tennessee. “This decision was influenced by various factors, including challenging market conditions for the facility’s products,” Georgia-Pacific said. The announced closure will affect 130 employees at the cellulose mill and 22 employees at the technology center. Most positions are to be terminated by early December, according to the company statement. Georgia-Pacific reportedly considered all available options for Memphis Cellulose, including selling the mill. “It is our intent to leave the mill and other facilities in a sellable condition for some time should there be an interested buyer following this announcement,” the company explained. (Source: EUWID)

Aqua Metals Closes $13 Million Capital Raise with Prominent Institutional Investor, Company Poised to Accelerate Commercialization Strategy

Aqua Metals, Inc., a pioneer in sustainable lithium battery recycling with its proprietary AquaRefining™ technology, announced it has closed a $13 million registered direct offering with a leading institutional investor. The transaction was executed as a shelf takedown. Gross proceeds of $13 million will further strengthen Aqua Metals’ balance sheet—already improved this quarter—and provide growth capital to advance the Company’s near-term commercialization and expansion initiatives. The successful offering enhances Aqua Metals’ financial flexibility and access to strategic growth funding as it transitions focus from pilot operations to commercial deployment. The Benchmark Company LLC, a StoneX Company, served as sole placement agent and financial advisor for the transaction. (Source: Aqua Metals)

Eco-Products Wins Balpex Innovation Center Award for Veda Reusable Containers

Eco-Products®, a Novolex® brand and leader in sustainable foodservice packaging, has been named the 2025 Balpex Innovation Center Award winner for its Veda™ reusable containers. Designed for cafeterias, campus dining halls and other on-site foodservice operations, the new Veda line makes reusable containers simple and trackable while supporting more sustainable foodservice operations. The Balpex Innovation Center Award recognizes products that demonstrate an innovative approach, measurable business impact, enhanced partner value and market differentiation. Balpex is a not-for-profit buying group representing independent distributors across Canada. Developed in partnership with reuse innovator OZZI®, the Veda line combines durable containers with smart tracking technology designed for campuses, corporate sites, military bases and hospitals. (Source: PR Newswire)

SUNSHINE RecycleFlash Weekly: October 20-24, 2025

Oregon Rolls out Drop-Off Recycling Sites as Part of EPR Program

Oregon has opened the first of its new recycling dropoff centers as part of the state’s ongoing rollout of its extended producer responsibility for packaging program. The program requires the state to offer these free, producer-funded drop-off sites, dubbed RecycleOn Centers. These depots are for residents to drop off what CAA considers “tricky-to-sort materials” that can’t go in curbside recycling but can still be recycled in the state. That includes items such as plastic bags, lids, plastic buckets, shredded paper and foil. Circular Action Alliance, the producer responsibility organization that leads Oregon’s program, announced last week it had collaborated with Recology to open the first of the drop-off centers in Ashland, Oregon. By the end of 2027, the state is expected to offer over 140 of these sites across the state. (Source: Waste Dive)

California Sues Plastic Bag Makers for Noncompliance

California ramped up its efforts to curb plastic pollution — suing three plastic-bag makers, alleging the companies falsely claimed their products were recyclable. State Attorney General Rob Bonta, a Democrat, said companies Novolex Holdings, Inteplast Group and Mettler Packaging violated a state law passed in 2014 that banned plastic bags at grocery store checkouts that weren’t recyclable. Under the law, shoppers could pay 10 cents for thicker plastic bags that needed to be reusable and recyclable. But the makers of the bags labeled them as recyclable even though they were not — recycling facilities cannot process them and they end up dumped in landfills, incinerated, or in the state’s waterways, Bonta said. (Source: AP News)

SUNSHINE RecycleFlash Weekly: October 20-24, 2025