Recycling prices and market commentary: 23 February 2024

February 23, 2024

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Some grades crept up in value this week, breaking the trend that had seen relatively stable markets for the last few weeks.

While not every material or grade saw an increase, those that did were on the back of extra demand.

This could just be a bit of a flurry as a result of monthly trading for March, but there was some hint of optimism for many that markets could pick up. But then for some materials and grades, there was no movement at all.

In particular, OCC and metal grades saw prices increases. Everything else was generally stable for the time being.

The pound strengthened to $1.27 from $1.25 a week ago, but was unchanged against the euro at €1.17.

Recycled plastics

It was a very steady week in the plastic market with very little changing again this week.

With the PRN/PERN price steady, no real changes to demand and many waiting to see if things will change, there was no incentive for the market price to move.

In some ways, the market has got used to PRN/PERN volatility, but it isn’t uncommon for the start of the year to see relatively stable prices in this market until more data becomes available. This then tends to kick-on physical prices.

But for the time being, it is a market that is seeing consistent pricing.

Recycled paper

OCC saw some more demand with activity coming from South East Asian mills, plus some European and UK domestic.

This helped to push up prices for this grade on the back of extra demand, and not a huge amount of material availability.

Indian mills had hoped to negotiate lower prices this week, but found themselves out of the market as a result of the higher values being offered by others.

For many, this was buying for March, and the weekly trade may act differently in the coming weeks.

Other paper grades were steady.

Recycled metals

Copper and brass both saw increases of £200 per tonne this week.