Tungsten prices are at highs not seen for some time. This short update will help you to understand the fundamental reasons behind these high prices and give you an insight into the near to medium term outlook for the tungsten market.
The insights provided in this 10 minute video are taken from the new edition of Argus Tungsten Analytics service, presented by Mark Seddon, Principal Consultant.
The video update explores:
• Tungsten prices are at 6-year highs, principally affected by near-term supply issues in China
• Demand for tungsten is generally muted, especially in Europe, but the defence sector is driving demand given the current geo-political issues in eastern Europe and the Middle East
• The medium-term supply picture is likely to be boosted by new projects coming on-stream in 2H 2024 and 2025
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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
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Thailand to extend BEV production commitment deadline
Thailand to extend BEV production commitment deadline
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