With the NPWD monthly data being published today, this week was very much a case of waiting to see what that revealed for packaging grades.
At the time of preparing this report, it hadn’t been published as yet.
The result for the market was a quiet one for plastics in particular, while paper only saw a small change for OCC.
Copper and aluminium grades improved though for scrap metal.
The pound was a touch stronger this week at $1.25 compared to $1.24 a week ago and €1.11 from €1.10 last week.
There wasn’t much movement in plastics prices today as the market awaited publication of the latest NPWD monthly data.
The PRN/PERN price increased a touch and this helped to push up the price of packaging grades by £5 per tonne, although there was a sense there was a bit of speculation behind this price rise.
In terms of the underlying market, bottle grade demand remains stable, but there is a view that LDPE is less wanted by the export market, especially as it has been noted by some domestic buyers that they have had more calls offering material.
It wouldn’t be a surprise if the rest of the month is volatile depending on the NPWD monthly data, especially up to the point the Q2 data is published at the end of the month.
It was a quiet week for the recovered fibre market this week, with most prices remaining stable as a result.
There were some waiting for the NPWD monthly data as the PRN/PERN has provided some support recently, although the price of the certificate has dropped a touch over the week.
But the main reason for it being quiet, is many are waiting to see which way prices are headed.
This has meant less activity in the weekly spot market, with more buying for the fortnight or the month in order to capture current prices.
Therefore, you might infer from this that the market thinks prices will be weaker over the coming few weeks.
OCC dropped by a couple of quid due to lower prices from the inspection destinations such as China and Indonesia, with £75 topping the market. Otherwise, the rest of the market was anywhere between £55 to £65 for serious buyers.
Other paper grades were unchanged.
Copper increased by £150 per tonne following a decent price rise on the LME. Aluminium grades were up by up to £200 per tonne, again following interest in the primary market.
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For PRN/PERN prices, click here