This is the final market report of 2022. The next one will be published on 6 January 2023. Thank you to everyone who has contributed their prices and thoughts on the market this year – it is much appreciated.
The market was very much focused on taking a Christmas break this week, with some already finished and those who are still working not wanting to trade too much.
Those who had stocks domestically were reluctant to add to them for fear that they might be devalued over the Christmas period. That meant most orders were coming from export markets, but even these tended to be low in volume.
With the high PRN/PERN prices seen in 2022, there is a lot of conversation about what this will mean for the market in January and how this will affect prices.
The pound was stable against the dollar at $1.21 and €1.14 compared to the euro.
There was not a lot of trade happening this week, partly due to Christmas but partly due to uncertainty around the PRN/PERN and people deciding to wait to see what January will bring.
Indeed, the PRN/PERN dropped by £25 earlier in the week and some orders were priced taking this into account, but by the time of writing it had pulled back £15 of this loss. Any trades were therefore back up a bit.
Those who had been collecting material and had it to sell were keen to ensure it went to domestic processors or the export market last week to ensure it wasn’t being stored in yards over the Christmas break, just in case prices fell further during this period.
There were limited orders for OCC this week, which brought the price down a little bit further. Some orders were available for South East Asia, but the market was winding down generally.
With the uncertainty around the PRN/PERN and January pricing, the market didn’t seem to want to trade for January yet so it seems like there will be more spot trading in early January once the PRN/PERN pricing situation is more clear.
Mixed was stable again this week.
As we get closer to Christmas, there was less demand for news & pams due to less demand from newsprint mills over the Christmas period. Prices fell by around £10 to £15 per tonne therefore.
Brass was the only change this week dropping by £50 per tonne.
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For PRN/PERN prices, click here