Scrap Sources
June 4, 2024
CRU: LME aluminum challenges a new support level, Hydro publishes environmental info
Written by Guillaume Osouf
The LME 3-month price is moving lower again on the morning of June 4 and was last seen trading at $2,658/t. Yesterday, the price attempted to regain $2,700/t but kept finding lower levels of resistance. This morning the price is under pressure again with a support at $2,640/t likely to be tested soon.
SHFE cash also came under pressure in the morning but gains resumed by the close. The cash contract settled at RMB21,255/t and last traded at RMB21,350/t.
Alupro gives update on the state of aluminum recycling in the UK
Alupro has released an update on its 2022 Aluminum Manifesto, outlining the current status of the UK’s aluminum recycling policies and the progress made since the manifesto’s original publication. The review examines various key areas critical to enhancing the aluminum recycling framework in the UK.
The 2024 update indicates the UK government’s Simpler Recycling policy now covers all aluminum packaging. Nevertheless, the updated manifesto highlights concerns about the quality of the materials collected, particularly with the adoption of comingled collection systems, which may not adequately reduce contamination.
The 2024 update points out a lack of support for on-the-go recycling infrastructure, which is essential for capturing recyclable materials consumed outside home. The current policy proposals also do not sufficiently incentivize local authorities to establish these necessary facilities. Alupro suggests more robust incentives and public-awareness campaigns are needed to improve recycling rates and diminish littering. Alupro also offers an update on themes such as communication and labeling, deposit return schemes, extended producer responsibility, infrastructure, as well as waste management and recovery.
Hydro publishes environmental data for operations in the US and Canada
Hydro has recently published environmental data for 22 of its manufacturing sites in the U.S. and Canada. The data is available in Environmental Product Declarations (EPDs), which have been verified by an independent third-party.
In total, the company analyzed 50 different product configurations, publishing 33 individual EPD reports. Hydro is the first extrusion company in North America to provide this level of detail on the impact of its production processes. The LCA data shows the average calculated CO2e footprint of Hydro’s extrusion operations to be 34% lower than the North American industry average, the online statement says.
EPDs are technical documents that describe the potential environmental impact of products throughout their lifecycle. Architects, engineers and designers across a wide range of industries use EPDs to better understand the footprint of their products and make sourcing decisions.
