Ellie Saklatvala, Senior Editor — Nonferrous Metals, provides a bitesize overview of the key price movements that happened in Q1 and how supply and demand fundamentals are shaping up as we move through Q2.
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US Al can recycling rate rises in 2023
US Al can recycling rate rises in 2023
Houston, 5 December (Argus) — US consumers recycled cans at a slightly higher rate in 2023 than in 2022, but still below pre-Covid-19 levels. Consumers recycled 43pc of their aluminum cans — about 46bn cans — in 2023, up from 42pc in 2022 but still down from 46pc in 2019. They threw away about 61bn cans, which would be worth about $1.2bn, according to a report from the Aluminum Association (AA) and the Can Manufacturers Institute (CMI). US aluminum producers recycled 57pc of beverage can scrap in 2023, down from nearly 59pc the year before but up from 56pc in 2019. The closed-loop circularity rate for aluminum cans, which measures what percentage of recycled beverage containers is used to make new beverage containers, rose to 97pc in 2023 from 93pc in 2021. US aluminum producers reported that average new beverage can is made up of 71pc recycled material, including 33pc used beverage can (UBC) scrap. CMI members seek to achieve a total recycling rate of 70pc by 2030, 80pc by 2040, and 90pc by 2050. The CMI and AA are pushing for expanded access to deposit return systems (DRS), where consumers receive a small refund whenever they deposit UBCs in certain containers. Consumers recycle 77pc of cans in states with a DRS compared with 36pc of cans in states without one. The two associations did not offer any timeline on any new state or nationwide DRS but did predict that national DRS coverage would increase the recycling rate by 48 percentage points. By Cole Sullivan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Scrap yards sue Minn. over copper theft law
Scrap yards sue Minn. over copper theft law
Pittsburgh, 4 December (Argus) — Upper Midwest scrap dealers sued Minnesota last week, claiming that state's new copper theft law will harm scrap metal businesses. The law would prohibit peddlers from selling copper to scrap yards without buying a $250/yr permit. The state is trying to prevent thieves from stealing copper wire from public infrastructure such as light posts. The upper Midwest chapter of the Recycled Materials Association (ReMA) said the law would "effectively shut down Minnesota's scrap metal industry" in the lawsuit against the Minnesota Department of Commerce. The law does not differentiate between sources of copper, which is found in "virtually all scrap metal," including jewelry, coins, cars and consumer electronics, the complaint says. ReMA asked the Ramsey County District Court to declare the law unconstitutional. The law, which takes effect 1 January, would allow licensed plumbers, electricians and workers in other trades to sell copper without a permit. Market demand for copper is causing thieves to steel the red metal at higher rates, according to the city of St Paul, Minnesota. Copper wire theft forced St. Paul to spend $1.2 million fixing streetlights and signals in 2023, the city said. Argus assessed bare bright copper scrap delivered to yards in the Midwest on Monday at $3.42/lb. The price was $3.25/lb a year earlier. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US light vehicle sales at 3.5-year high in Nov
US light vehicle sales at 3.5-year high in Nov
Houston, 4 December (Argus) — Domestic sales of light vehicles in November reached their highest level in over three years, rising to a seasonally adjusted rate of 16.5mn on the strength of greater truck purchases. Sales of light vehicles — trucks and cars — increased from a seasonally adjusted rate of 16.3mn in October, the Bureau of Economic Analysis reported today. Last month's rate was the highest since 17mn in May 2021 and greater than the 15.5mn unit rate in November 2023. Declines in borrowing costs and improved sentiment about the US economy following Donald Trump's presidential election victory spurred consumers to spend more last month. Still, the prospect of higher tariffs and growing geopolitical tensions — induced by Trump's trade policies — could reignite inflation next year and tamp down buying. Truck sales rose by 2.5pc sequentially to a 13.5mn unit rate in November, while sales of cars edged lower by 2.9pc to a 2.96mn unit rate in the same timeframe. Domestic auto production slipped to a seasonally adjusted rate of 122,500 in October from 123,900 in September. That compared with 134,700 in October 2023. Auto assemblies are reported with a one-month lag to sales. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Thailand to extend BEV production commitment deadline
Thailand to extend BEV production commitment deadline
Singapore, 4 December (Argus) — Thailand's National Electric Vehicle Policy Board has approved an extension for battery electric vehicle (BEV) producers, which were supposed to fulfil their production commitment this year, according to the country's Board of Investment (BOI). BEV manufacturers received subsidies under the country's first phase of EV promotion measures — also called the EV 3.0 measures — and were supposed to produce one BEV this year for every vehicle they imported between 2022-23. The ratio will rise to 1½ BEV in 2025 for every imported vehicle. The unfulfilled portion of the production commitment will now roll over and manufacturers are required to instead follow the conditions under its second phase of EV promotion measures , the EV 3.5 measures. The portion that was not completed will not receive subsidies under either package, said BOI on 4 December. Subsidies under the EV 3.5 measures will "come into force" after those production commitments have been fulfilled. About 26 car manufacturers have applied to the incentive schemes, according to BOI. Thailand's Federation of Thai Industries (FTI) cut the country's 2024 auto output estimation twice this year. The estimation was cut from 1.9mn units to 1.7mn units in July, and once more to 1.5mn units in November. Thailand's total vehicle output in January-October came in at nearly 1.25mn units, down by 19pc compared to the same period a year earlier, according to FTI. October's vehicle output fell by 25pc on the year to 118,800 units, domestic sales dropped by 36pc to about 37,700 units and exports were down by 20pc to around 84,300 units. The country has produced 8,026 units of battery passenger cars, 159,176 units of hybrid passenger cars and 5,067 units of plug-in hybrid passenger cars over January-October, according to FTI. Cumulative registrations of battery passenger cars reached 213,173 units as of end-October, while that of hybrid passenger cars reached 455,364 units. The National Electric Vehicle Policy Board in July approved a temporary reduction of excise tax rate for hybrid EVs from 2028-32 on the conditions of car manufacturers investing in Thailand and adhering to strict vehicle CO2 emission requirements, which it said is expected to bring in around 50bn baht ($1.4bn) of new investments. Excise tax rates of between 6-9pc were set depending on HEVs' CO2 emission requirements. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
