It was a largely static recycling market this week, as those who trade in packaging grades waited for the publication of the Q2 data next week from the NPWD.
OCC saw a bit of an uplift thanks to some extra orders for China ahead of that market closing shortly.
Plastic grades were stable due to an unchanged PRN/PERN value while the market waited to see what the Q2 data will bring.
In metals, aluminium grades increased in price, including cans.
Against the dollar, the pound was unchanged at $1.25, but dropped to €1.10 against the euro compared to €1.11 a week ago.
As mentioned above, it was a largely static market this week as participants awaited next week’s publication of the Q2 data from NPWD.
This also meant that the PRN/PERN was relatively stable too.
Bottle grades saw no real change in supply and demand, especially as summer holidays are starting to begin. There is a bit of caution in the market for these though, as nobody is quite sure how summer consumption patterns across UK and Europe in particular will change this year.
For film, there was a bit of extra demand from Europe for film grades, but this was counteracted by less UK and deep sea demand.
All eyes are on next week and what the data reveals.
There was a bit of a flurry this week as Chinese buyers sought to fill some quota while also getting the material on the water.
Ahead of the implementation of its new laws on environmental protection on 1 September, shipping lines MSC and Hapag-Lloyd had previously announced that they would only send material if it would reach there by that date, even though solid waste imports are set to be banned by the end of the year.
We also understand that CMA and Maersk are either refusing to ship beyond that date, or being highly selective. Chinese shipping lines appear to be prepared to send material there until the end of the year, at least this is what they are saying at the moment.
Anyway, OCC to China was above £70 per tonne typically for those Chinese buyers aiming to get material on the water.
Elsewhere was below this price with good material often attracting above £55 per tonne.
There is a school of thought that prices will be either stable or rising as we head through July and into August, but there is also the contrary view too.
Other grades were stable.
Aluminium grades saw an increase this week on the back of recent rises on the LME. Around £75 per tonne was added to the price of these grades, although cans just increased by around £50 per tonne.
Brass grades increased by £25 per tonne.
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For PRN/PERN prices, click here