Uncertainty continues to dominate the thoughts of those in the sector, with recycling prices remaining volatile.
Paper grades were up a little for some and down a little for others. Non-ferrous metals were pretty much down for all grades. Plastics remained stable.
For exporters there was some benefit as the pound slipped to $1.31 from $1.32 last week on the back of US President Donald Trump suggesting it would be harder for the UK to make a trade deal with the US, following publication of the UK Government’s Brexit White Paper.
Against the euro, the pound was largely stable at the same €1.13 as last week.
As we head further into July, the market is anticipating the summer slowdown when the market is expected to be very quiet this year.
The end of the World Cup is expected to reduce the amount of retail arisings as people head off on holiday.
In terms of shipping, the expectation is that container prices will continue to be flat.
Of course, if the Chinese were to retaliate on US tariffs on recycled paper and plastics announced this week, that could fundamentally alter the global market. US exporters are likely to flood other destinations, while the Chinese will look to focus on UK, Europe and Japan for paper.
Recycled plastic
Prices are stable for the time being, helped by purchasing from Europe ahead of the upcoming summer slowdown.
But there is uncertainty in the outlook for most plastic grades. While the PRN and virgin prices remain good, there is hope that the relatively healthy plastics prices will last.
It will also be dependent on whether end destinations can be found for material, with it becoming increasingly difficult to find Asian markets willing to take it.
Film remains a tough grade to shift though, with UK and Europe the main outlets for it at present.
Recycled paper
OCC eased back a touch this week as one of the main Chinese buyers reduced its prices by over £15 per tonne, and Indian demand also subsided a touch.
However, the other Chinese buyers were still strong with anywhere in a range of £150 to £165 possible for material that met their specification.
With fibre demand in China still strong and local fibre prices high, those that can meet the Chinese specification are likely to benefit from a premium for the time being. Even if demand eases from one of them, it looks set to be temporary.
Chinese demand from N&P and SOW is also strong at the moment, helping to push up those prices in recent weeks.
Mixed continues to be of interest to UK and European mills who are taking advantage of the relatively low prices, even if prices keep rising. Mixed still looks like good value.
Recycled metals
Metals suffered from the US tariff announcement this week, with non-ferrous grades hit in particular. Copper and brass lost £200 per tonne, and aluminium £50 per tonne.
This was in response to falls on the LME with fears that Chinese demand for metals will fall as US tariffs hit its economy, leading to less construction and infrastructure development.
Ferrous grades, however, were untouched and remained at the same price as last week.
Prices
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