Auquan's Weekly Wrap | 22nd - 28th October: What you might have missed
Recap of some market activity and unique insights this week: Uterine Cancer Risk in Consumer Goods Hair Straightening Products. Lithium Correction. Uyghur Group Challenges HRMC
Top Themes
Hair Straightening Product Cancer Risks
Initial research from the National Cancer Institute has linked uterine cancer with the use of hair straightening products, (both chemicals and hardware) as 'heating processes such as flat ironing or blow drying during straightening treatments could release or thermally decompose chemicals from the products, leading to potential higher exposures to hazardous chemicals among the users.' Just two days ago a lawsuit has now surfaced for L'Oreal directly linked with this cancer risk. Diandra Debrosse Zimmermann, a lawyer for Mitchell, said her firm already has other clients in similar circumstances. "there would likely be more lawsuits in the future, as "many women will be coming forward in the coming weeks and months to seek accountability." Other companies potentially exposed include Unilever which is already recalling products due to a separate benzene-related blood cancer risk.
- L'Oreal's hair straighteners caused woman's cancer, lawsuit claims
- Use of Straighteners and Other Hair Products and Incident Uterine Cancer
- Frequent use of hair-straightening products may raise uterine cancer risk
- Hair-straightening products linked with uterine cancer risk -study - Journal of the National Cancer Institute
Uyghur Group UK Cotton Ban Lawsuit
The World Uyghur Congress (WUC), an international organisation of exiled Uyghur groups, is taking legal action against Home Office, HMRC and National Crime Agency. The lawyers say the Home Office has wrongly refused to launch a probe into the importation of foreign prison-made goods, and that HMRC and the NCA have failed to investigate whether cotton from Xinjiang amounts to "criminal property".
- Uyghur group challenges Britain over 'slave labour' cotton
- UK court to hear Uyghur demands to ban Xinjiang cotton
Global Lithium Shortage
Previous concerns in September of production failing to meet growth in demand for lithium ion batteries (a vital material for eletric vehicle batteries) have been allievated according to participants at the Financial Times Mining Summit in London this week. Whilst September's had record prices for lithium carbonate (tripling last year), lithium prices could fall 30%-40% from current levels by December amid recession expectations. "The correction will come about mainly due to a fall in demand from the US electric vehicle sector as US consumers find they have less money to purchase EVs", the risk manager said.
- Lithium set for correction amid supply growth in recessionary climate
- Rio Warns Miners Not Moving Fast Enough on Lithium Extraction
- Rio warns miners not moving fast enough on lithium extraction
- Lithium Price Smashes New Record as Supply Struggles to Feed EV Growth
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