A recovery seems to be continuing for OCC with prices for this cardboard grade now back up to levels last seen in May 2023.
Other materials aren’t necessarily responding in the same way, but we haven’t seen many grades drop either in the last couple of weeks.
Next week should set a benchmark for October for paper and plastic grades in particular as many will be buying or selling for the next month.
The pound was a cent down to $1.22 from a week ago, and the same amount with the euro dropping to €1.15.
There wasn’t a huge amount of material traded this week as many wait until next week to set a monthly contract.
However, prices were relatively stable across the board for those grades that were being traded.
The PRN/PERN gained a little ground on last week, but not enough to make much difference.
For those trading into Europe, the pound has dropped against the euro in recent weeks and has made material a tiny bit cheaper for European buyers, but still not enough to really tempt them.
OCC is in good demand and many orders were breaching £100 this week. Some were still in the high-£90s, some were close to £105 and there were others who were not interested.
The reason for this pick-up in OCC demand is that deep sea buyers are snapping up material because it is currently better value than that from the US.
It is also the case that demand seems to be outstripping supply, but that may change next week when sellers are able to allocate material for October trades rather than finishing up for September orders.
Other grades aren’t seeing the same amount of interest, although mixed responded a little.
Copper dropped by £125 per tonne, brass was down £50 but ferrous grades gained £10.
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For PRN/PERN prices, click here