The week leading up to Easter and the long weekend brought huge price increases for metals, largely stable plastics, and an uncertain paper market.
Metal prices were driven by price rises on the LME, but these values on this index have started to come down.
Plastics grades saw a PRN/PERN price fall, but underlying demand helped keep some grades stable and other packaging grades increased.
For paper grades, the market is trying to decide which way it is headed. Some think it is going upwards, while others believe it has hit recent heights and is on the way down.
There are also reports of shipping surcharges occurring as a result of the delays and disruption caused by the Evergreen vessel that held up traffic in the Suez Canal.
The pound was unchanged against the dollar at $1.37 but strengthened against the euro to €1.17 from €1.16 last week.
LDPE grades increased in value this week due to strong underlying demand.
With the PRN/PERN price dropping by about £20 per tonne, packaging grades did not follow the same pattern.
For film, really good demand is coming from Europe still with UK buyers also trying to snap up material. With lockdowns getting stronger across the Continent, film needs are increasing.
Bottle buyers were also prepared to keep prices at the same rate as last week, despite the fall in the PRN/PERN value, driven by increasing demand and higher prices for their products.
This was an uncertain week for those trading in OCC. Some are of the view that prices will continue to rise, while others believe they are on the way down after already being too high.
It looks like April will be a battle between the two groups to see which wins out.
OCC did drop a touch this week, but those who have sold for the month are hoping mid-month reviews will push prices back up as the month goes on.
Mixed stayed the same, but showed no signs of falling as yet. News & pams has had to respond with higher prices, especially as this grade is like gold dust at the moment with many traders struggling to find it.
Strong prices on the LME pushed up most metal grades by huge sums this week. Copper grades increased by £725 per tonne, brass was up by £275 and industrial aluminium by £375 per tonne.
Volatility seems back for these grades, especially as LME prices have dropped in the last day or so, suggesting the scrap price will fall too.
Steel grades were up by £20 per tonne.
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