It was a relatively flat week in the recycling market as buyers and sellers took time out to assess where prices are headed.
For plastics, the anticipation is around what the re-opening of Turkey will bring. Although material can go there immediately, there is a lag while orders come through and everyone gets to grips with the new regulations and what they have to do to meet them.
The paper market was dormant with many having traded long earlier in the month and now anticipating whether August will be a traditionally quiet month, or will have more activity.
Metals were also quite flat too.
In FX markets, the pound was a touch stronger at $1.38 from $1.37 last week, and was also up a little on the euro at €1.17 from €1.16.
The news that Turkey had reversed its ban on 391510 plastics was welcomed this week for bringing more competition into the market.
But this week was more about the anticipation of what this will mean rather than making any difference to trading. There is still quite a few gaps to be filled in terms of what is required by Turkish authorities, and buyers from there need to get to grips with what they need to do.
It could be a few weeks before Turkey has an effect.
Despite the PRN/PERN price falling due to the positive news on Turkey and strong data for the year so far, bottle grades saw no price change due to good underlying demand for recycled content.
Film dropped by £5 per tonne, with availability of material improving following the re-opening of retail in recent weeks.
It was quite a flat week in the recovered fibre market, as many traders had done all of their business for July in the first week of the month.
Some mills also appeared to be holding back in the anticipation that a quiet August may bring lower prices. Others took the counter view that Covid has proved tradition wrong, and the first week of August could lead to rising prices and strong demand again. The next week or two will see both sides of the argument trying to win out.
However, OCC did come off by £5 per tonne this week as a result of slightly weaker demand, while other grades remained the same with European demand helping to keep mixed stable.
Multi and SOW saw £10 added to their value though.
Brass was the only metal grade to move this week, increasing by £100 per tonne.
For recycled paper prices, click here
For recycled plastic prices, click here
For recycled metal prices, click here
For recycled glass prices, click here
For PRN/PERN prices, click here