This morning in metals news: Ford Motor Co. is collaborating with Redwood Materials on a closed-loop battery recycling and building out the domestic electric vehicle battery supply chain; Norway will expand natural gas exports to Europe; and, lastly, aluminum prices have slowed down after peaking Sept. 13.
Many may be wondering how to set buying strategies for 2022 with so many variables in the air. The old saying goes, “Nothing kills high prices like high prices” — but does that still hold true?
Ford, Redwood to team up on closed-loop battery recycling
Ford Motor Co. announced it will collaborate with battery materials company Redwood Materials on closed-loop battery recycling.
The companies also said they will work together to build out a domestic battery supply chain.
“Ford and Redwood are collaborating to integrate battery recycling into Ford’s domestic battery strategy. Redwood’s recycling technology can recover, on average, more than 95% of the elements like nickel, cobalt, lithium and copper,” the automaker said. “These materials can be reused in a closed-loop with Redwood moving to produce anode copper foil and cathode active materials for future battery production. By using locally produced, recycled battery materials, Ford can drive down costs, increase battery materials supply and reduce its reliance on imports and mining of raw materials.”
Norway to boost natural gas exports to Europe
As Stuart Burns explained yesterday, natural gas prices have surged, imposing added costs on industry and residential consumers alike.
In that vein, Reuters reported Norway will increase exports of natural gas to Europe.
Norway will permit state-controlled Equinor and its partners to boost exports from two offshore fields over the next 12 months, Reuters reported.
Aluminum prices stabilize
As we’ve noted recently, aluminum prices have skyrocketed, peaking at $2,950 per metric ton on Sept. 13.
Since then, the LME three-month price has cooled.
LME three-month aluminum closed Tuesday at $2,878 per metric ton.
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