With PRN/PERN prices so high across the board, small percentage swings can have a big impact on whether transactions are profitable or not.
This was a week when those small changes amounted to people having to work out which price to trade at.
For plastics and aluminium, the PRN/PERN value went up, was down for paper, with other materials largely the same as last week.
Trading was still quiet overall though, and markets are still suffering from weak demand and weak supply in the main.
The pound finished the week at $1.24, which was the same as last week. The euro was also unchanged at €1.13.
It was a mixed picture for plastic packaging grades, as some are suffering from lower demand.
While PET and HDPE bottles responded by increasing due to a £10 PRN/PERN price uplift, LDPE film didn’t respond and remained at the same price as last week.
For non-bottle HDPE that doesn’t have the benefit of the UK Dairy Roadmap, and also PP, there was a price fall of around £40 despite the PRN/PERN effect.
Trading of most grades remains sluggish compared to the past, but orders are at least remaining consistent, albeit low.
It was a flat week for trading with many waiting to see where the PRN/PERN was headed and also looking ahead to next week, which might be when most May tonnage will be traded.
Those who were buying or selling OCC found prices down by about £5 per tonne, partly as a result of the PRN/PERN price coming down.
For other grades, there wasn’t much movement at all.
Overall though, it remains the case that there are a number of traders all trying to buy a slice of the pie, but there is no sense that the pie is getting any bigger yet.
Ferrous grades came down this week by £20 per tonne. Copper was the only other mover increasing by £50 per tonne.
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