The extended time off for the Easter weekend brought a quieter recycling market this week.
With many UK and European traders taking time off, this inevitably had an impact on trade. Additionally, many buyers from these regions had ensured they had stocked up ahead of the Easter weekend.
Plus, some European buyers were put off by the long queues of lorries at Dover to get through Customs, especially if they wanted material quickly.
Some key paper and plastics grades saw some small reductions in price as a result. A couple of metals grades also saw lower values.
The pound was trading at $1.31 at the time of writing, up just a touch from $1.30 last week. Against the euro it was at €1.20 from €1.19 last week.
Key packaging grades dropped just a touch due to the quiet market ahead of the Easter weekend.
With those buyers still around only topping up stocks, and most having pre-bought ahead of the Easter break, there was only a small amount of trade occurring. Those that were still in the market were able to price at slightly lower levels than last week, especially with the logistical challenges that were happening in Dover and the M20 in Kent.
However, there is a strong view that the fundamentals of the market remain strong, and many expect that values will pick up again after the Easter break, and once it becomes easier to get material into Europe again.
The question though will be how much higher prices can still go if this prediction that the market is strong proves true.
With much of the market now trading on a monthly basis, and it also being Easter weekend, there wasn’t a lot going on this week.
Those that were trading saw prices for OCC and mixed ease a little – £3 and £2 respectively.
European buyers were not especially strong due to holidays, and Indian traders also had more markets to choose from now that Europe is open to them too.
Looking beyond Easter, a gradual easing down is what most people now expect. Nobody is quite sure when the bottom will be reached and at what value.
Copper was down by £100 per tonne, while brass dropped by £50 per tonne.
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