SUNSHINE RecycleFlash Weekly: September 21-25, 2026

September 25, 2026

Bernstein Cuts 2030 Gold Price Forecast to $5,600 per Ounce

Bernstein has lowered its 2030 gold price forecast to $5,600 per ounce from $6,100, while maintaining its view that the metal can continue rising even as real interest rates increase, according to Investing.com. Analyst Bob Brackett said shifting rate expectations, from anticipated cuts earlier this year to potential hikes through 2027, have pushed real rates to around 2.7% from 1.7% in early March. Gold has remained resilient despite its historically negative correlation with real rates, while gold ETF holdings have been broadly stable. Brackett identified continued central bank buying as a key structural driver, noting that several major reserve holders still have relatively low gold allocations. He said a slowdown in central bank purchases is a key risk, while persistently high energy prices could fuel inflation and support further rate increases. (Source: Investing.com)

Silver Pressured by Stronger Dollar, Yields

Silver fell toward $64 an ounce on Thursday, extending losses the previous session, pressured by a stronger dollar and surging Treasury yields. Those moves came as stronger-than-expected US private-sector data heightened inflation concerns and strengthened expectations for further Federal Reserve rate hikes. Several Fed officials have also reiterated support for last week’s rate increase while warning about persistent inflation risks. Markets are now pricing in around a 70% chance of another Fed rate hike in October, up from 55% a day earlier. At the same time, oil prices rebounded as Iranian President Masoud Pezeshkian maintained a firm stance, saying Tehran would not allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place. Higher oil prices add to inflationary pressures, reinforcing expectations for a more hawkish interest-rate outlook. (Source: Trading Economics)

Platinum Holds at 5-Week Low

Platinum futures held below $1,760 an ounce after dropping more than 4% in the previous session to a five-week low, as higher Treasury yields and dollar strength reduced demand for the non-yielding metal. The selloff followed stronger-than-expected US business activity data, reinforcing expectations for higher interest rates. The 10-year US Treasury yield climbed to its highest level since 2007, while the dollar strengthened as markets raised bets on another Federal Reserve rate hike at the October meeting. Rising oil prices also added to inflation concerns, after Iran’s President said Tehran would keep the Strait of Hormuz closed while US sanctions and the blockade remain. Still, platinum’s fundamentals remain supportive, with above-ground stocks forecast to cover just 3.4 months of demand by year-end despite a projected 265,000-ounce surplus in 2026. Industrial demand is expected to rise 5%, driven partly by AI-related glass and electrical applications. (Source: Trading Economics)

Comstock Metals Begins 24/7 Solar Panel Recycling Operations in Nevada

Comstock Metals has begun continuous 24/7 operations at its solar panel recycling facility in Silver Springs, Nevada, marking the transition of its Solar Panel Recycling Production system to full-time processing. The company said the facility uses a zero-landfill recycling model for end-of-life solar panels and provides chain-of-custody documentation for utility-scale solar customers. Following the move to continuous operations across four shift teams, Comstock plans to ramp up production to handle growing customer volumes. The company expects demand for solar panel recycling to increase as more installed panels reach the end of their operating lives. Comstock also has storage capacity at facilities in Hanford, California, and Cambridge, Ohio, to support incoming material. Comstock CEO Corrado De Gasperis said the company’s focus has now shifted from deploying and testing its proprietary recycling system to increasing processing volumes following the transition to continuous production. (Source: Global Newswire)

GM, Cirba Solutions Complete Closed-Loop EV Battery Recycling Pilot

General Motors (GM), Cirba Solutions and their partners have completed a closed-loop electric vehicle battery recycling pilot using recovered materials from end-of-life GM EV batteries to produce new battery cells. Cirba Solutions processed battery packs at its Ohio lithium-ion recycling facility into black mass, an intermediate material containing critical minerals. The recovered nickel, cobalt and manganese were further refined into cathode active material (CAM) containing 100% recycled content of those three metals, meeting requirements for use in new battery cells. Ultium Cells, the GM-LG Energy Solution joint venture, used the recycled CAM to produce battery cells. GM then assembled the cells into battery modules and packs at its Factory ZERO and Spring Hill facilities. The first EVs powered by the recycled-material cells have now entered production. The pilot demonstrates a closed-loop pathway for recovering critical minerals from end-of-life batteries and returning them to domestic battery manufacturing. (Source: Cirba Solutions)

Bridge Green, Hartree Sign Up to $1 Billion Lithium Recycling Deal

Bridge Green Upcycle and Hartree Partners have signed an eight-year agreement covering the purchase and marketing of recycled lithium carbonate, with an estimated value of $500 million to $1 billion based on current market conditions. Hartree will have exclusive marketing rights and purchase approximately 10,000 metric tons of lithium carbonate annually across all grades produced by Bridge Green. The agreement can be renewed for an additional seven years. The agreement is accompanied by an equity investment from Hartree in Bridge Green’s bridge financing round, supporting the recycler’s planned expansion of battery recycling and critical-mineral refining capacity in the U.S. and India. Bridge Green commissioned its Circularity Center India in the second quarter of 2026, with nameplate capacity of about 7,200 metric tons of lithium-ion battery feedstock per year. First lithium carbonate volumes under the Hartree agreement are expected in 2028. Bridge Green plans to use proceeds from its upcoming Series A financing to develop fully integrated commercial refining facilities in the U.S. and India. Hartree will serve as the downstream marketing channel as the facilities come online. The agreement comes as the U.S. remains more than 50% net import reliant on lithium, according to 2026 U.S. Geological Survey data. (Source: Bridge Green Upcycle)

Nippon Steel Plans $1 Billion EAF Investment in Slovakia

Nippon Steel Corp. plans to invest about €900 million ($1.03 billion) to add electric arc furnace (EAF) capacity at its steelmaking complex in Košice, Slovakia, as the company expands lower-carbon steelmaking in Europe. The project, at United States Steel Košice (USSK), will include a 1.6 million-metric-ton-per-year EAF melt shop and an air separation unit (ASU). EAF production is expected to begin in 2030, while the ASU is scheduled to start in 2029. The company did not specify the share of recycled steel in the EAF feedstock. USSK has signed an agreement with the Slovak government that could provide up to €350 million ($402 million) in grants from the EU Modernization Fund. Nippon Steel said the investment is intended to improve the mill’s competitiveness, energy efficiency and carbon performance while maintaining steel production alongside its existing blast furnace facilities. From October 1, USSK will become directly owned by Nippon Steel and will be renamed Nippon Steel Slovakia s.r.o. The project adds to a series of EAF investments across Europe as steelmakers respond to decarbonization requirements and changing market conditions. (Source: Nippon Steel)

Electra Advances Plans for North American Nickel Refinery and Battery Recycling

Electra Battery Materials has released preliminary engineering results for the first phase of a proposed two-phase nickel refinery designed to process mine-derived feedstock into battery-grade nickel sulfate, with a later phase planned to incorporate recycled battery black mass. The first phase would produce about 20,000 metric tons per year of contained nickel, with preliminary modeling indicating nickel and cobalt recovery rates of at least 97%. The project would use conventional hydrometallurgical processes and could produce nickel sulfate for battery manufacturers and nickel metal for industrial and military applications. Preliminary capital estimates range from US$530 million to US$675 million, depending on the feedstock configuration. A second phase could add another 20,000 metric tons per year of contained nickel capacity by processing battery black mass, while also recovering cobalt, lithium and graphite. Electra said the expansion would build on its existing battery recycling demonstration work. The study is based on a potential site in the southeastern U.S., although final site selection remains subject to further assessment, permitting, financing and commercial agreements. Electra is continuing discussions with governments, feedstock suppliers and potential customers on funding, supply and offtake arrangements. (Source: Electra Battery Materials)

French Recycler Groupe GPA Expands Closed-Loop Vehicle Materials Recovery

French vehicle recycler Groupe GPA has established a five-person R&D team to develop processes for recovering materials from end-of-life vehicles and returning them to automotive manufacturing supply chains. Led by mechanical engineer Marc Jolivet, the team is working on aluminum, plastics, copper, glass, batteries and rare earth elements, with a focus on increasing material recovery, supporting closed-loop systems for automakers and developing safe treatment processes for electric vehicles. GPA’s aluminum recovery program is among its most advanced initiatives. Through a partnership with aluminum specialist SOREMO, the recycler currently supplies 20 to 30 tonnes of engine blocks each month from dismantled vehicles. The recovered aluminum is processed into ingots for potential use in new vehicle production. GPA estimates volumes could reach about 100 tonnes per month based on an annual collection of 50,000 vehicles and potentially 140 tonnes per month by 2029. The R&D program is also testing polypropylene, polyamide and polyurethane recovery, with polypropylene already showing potential for use in new bumpers. GPA is developing copper recovery methods focused on purity and traceability, while research into automotive glass and rare earth recovery remains at earlier stages. (Source: Auto Recycling World)

Novelis Expands Coated Aluminum Solutions for Battery and Energy Storage Markets

Novelis has expanded its coated aluminum portfolio for battery and energy storage applications, targeting growing demand from electric mobility and stationary energy systems. The company said its automotive-grade aluminum solutions can be used in battery enclosures, casings, electrical connectors, and bus bars. By combining aluminum sheet with advanced surface technologies, Novelis aims to improve corrosion protection, formability and electrical insulation while simplifying manufacturing processes. Its water-based coating technology, already in use at an advanced coating line in Germany, is applied to aluminum coils before forming and remains effective after stamping. The approach can reduce the need for external lubrication and additional e-coating steps. Novelis said the solutions also support circularity through high-recycled-content, low-carbon aluminum and closed-loop recycling. Milan Felberbaum, director of R&D at Novelis Europe, said the technology is designed to improve manufacturing efficiency while supporting battery performance and durability. (Source: Novelis)

EU Proposes New Restrictions on Scrap Exports to Non-OECD Markets

The European Commission has proposed excluding several major ferrous scrap-consuming countries from receiving EU scrap under new waste export rules scheduled to take effect in May 2027. A draft list published on September 18 would exclude Egypt, Morocco, Bangladesh, India and Pakistan, despite continued access requests from 32 non-OECD countries. Stakeholders have until October 16 to submit comments. EU ferrous scrap exports to several affected markets have increased significantly. Egypt imported 1.86 million tonnes in 2025 and 947,000 tonnes in January-July 2026, up 34% year on year. Morocco and Pakistan also recorded increases of 77% and 56%, respectively, while India’s imports fell 22%. The restrictions stem from the EU Waste Shipment Regulation adopted in 2024. Under the new rules, non-OECD countries must demonstrate environmentally sound management of specific waste streams to retain access. Exports to countries not on the final authorised list will be prohibited from May 21, 2027. (Source: EU Commission)

European Commission Keeps EU Battery Recycling Targets Unchanged

The European Commission has concluded that the EU’s existing targets for waste battery recycling efficiency and material recovery remain appropriate, following an assessment of technological developments, market conditions and the availability of key raw materials. The review, required under the EU Batteries Regulation, examined developments in battery technologies and the availability of cobalt, copper, lead, lithium and nickel. The Commission said the current targets provide a balance between environmental ambition and the feasibility of a growing recycling industry, and found no grounds to revise them. Under the existing framework, lithium-based batteries must achieve a recycling efficiency rate of at least 65% by the end of 2025 and 70% by the end of 2030. Material recovery targets by the end of 2027 are 90% for cobalt, copper, lead and nickel and 50% for lithium, rising to 95% and 80%, respectively, by the end of 2031. The Commission said maintaining the targets will support investment in battery recycling and help strengthen the EU’s supply of critical raw materials. The targets must be reassessed at least every five years, with the next review due by August 18, 2031. (Source: EU Commission)

UK Battery Supply Chain Attracts More Than £7 Billion in Investment

More than £7 billion has been committed to the UK’s emerging electric vehicle battery supply chain, spanning battery manufacturing, lithium extraction and refining, materials technology and recycling, according to a report from transport research organization New AutoMotive. The report identifies more than 14 major projects, with the sector already generating £4.2 billion in annual turnover and supporting more than 10,000 direct jobs. Key developments include Envision AESC’s 15.8 GWh Sunderland plant and Agratas’ £4 billion, 40 GWh gigafactory under construction in Somerset. The supply chain also includes lithium projects by Cornish Lithium and Northern Lithium, planned refining facilities from Tees Valley Lithium and Green Lithium, and battery recyclers Altilium and Recyclus Group. New AutoMotive estimates the UK will need about 115 GWh of annual battery-cell capacity by 2035, compared with around 60 GWh currently confirmed. It recommends maintaining policy certainty, improving industrial power costs, retaining battery-recycling feedstock domestically and introducing digital battery passports. (Source: Yahoo News UK)