The price of LDPE film remained under pressure this week with traders waiting for Chinese buyers to come back into the market.
scrap-ex reported the weekly price for the benchmark 98/2 grade at £235 – £270 which is a touch lower than last week. The driver still appears to be the Chinese market where concerns over inflationary pressures and a general pull back in LDPE pellet prices has resulted in less buying interest.
On Wednesday scrap-ex reported that imports of plastics where down in May compared to April. China imported 158,711 tonnes of ABS copolymers in May, but 166,593 in April.
The price of HDPE and PET bottles have largely remained stable, as bottle prices are being supported by demand from UK and European reprocessors. Markets for other plastic grades remain largely stable week on week.
In the metals markets prices generally firmed after some recent weakness. The price of copper hit its highest price for two months at the close of the LME, after the Greek parliament voted to accept its austerity package. This puts LME copper at £5737 and the scrap-ex price for the top recovered grades between £4400 and £5100. Steel, Lead and Aluminium all firmed slightly.
For the latest scrap-ex price report please see the price section of the website. http://www.scrap-ex.com/news_events/reports/?intro=yes