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The text of SB 54 sets reporting requirements for transfer station and “disposal facility” operators to provide “periodic information to the on the types and quantities of materials that are disposed of, sold or transferred to other recycling or composting facilities or specified entities.” Gavin Newsom has signed Senate Bill 54, which creates several amendments to the state’s Integrated Waste Management Act of 1989 and is designed to address plastic litter issues and low recycling rates in the Golden State, into law.
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says,“Nonferrous sales volumes were up 29 percent year over year, benefiting from strong global demand and an easing of supply chain and logistics disruptions.”Ĭalifornia Gov. On the processing and trading side, in its quarter ending May 31, Portland-based Schnitzer Steel Industries Inc. The lower price has not seemed to stall copper recycling investments in the United States, with German companies Aurubis and Wieland both moving forward with significant recycling capacity investments. dollar, which the news service says “makes dollar-denominated metals less attractive for buyers holding other currencies.” While China’s commodity woes might be felt most keenly on the Shanghai Futures Exchange (SHFE), the nation’s partial hibernation helped cause Japan’s factory output in May to post the biggest monthly drop in two years, Reuters says.Īnother factor has been the increasingly strong U.S. That same article points to several factors contributing to a lack of confidence in the metal’s future, including the prolonged COVID-19-related lockdown in Shanghai and other parts of China and the onset of potential recessions in other parts of the world, caused in part by rampant inflation. The month of June, therefore, saw a 12.8 percent drop in the value of copper as measured by that exchange.Ī news item posted by Reuters June 30 indicates the value of copper on the LME fell by more than 19 percent in the second quarter of this year. The red metal started the month at $9,450 on the LME ($4.29 per pound). Analysts are citing stifled economic activity in China combined with fears of a recession in developed nations as raising concerns on the demand side for the red metal.Ĭopper closed on the United States-based Comex exchange at $3.64 per pound June 30, while on the London Metal Exchange (LME) it ended that day with a cash bid price of $8,240 per metric ton, or $3.74 per pound. The value of copper on global trading exchanges headed steeply downward in June.