While physical market conditions remain weak, the PRN/PERN price continues to prop up some grades.
In plastics, some price increases were seen for some, but other grades fell despite the PRN/PERN support.
Cardboard also couldn’t hold up despite the PRN/PERN support but other grades that were less reliant on it, were still attracting similar price report.
Across the board, there isn’t a great deal of confidence in which way markets will be headed and uncertainty continues to be a key theme.
Those trading to deep sea destination found the pound unchanged on last week at $1.19 while compared to the euro it bounced back to €1.13 after falling to €1.12 a week ago.
Bottle grades benefitted from a stronger PRN/PERN and responded by increasing in value by the same £25 per tonne uplift.
For other polymers, it was a different picture.
Film grades remained unchanged for example, with less European demand negating the improved PRN/PERN price.
With weakening demand from European buyers, PP has dropped in value losing about £50 per tonne.
Considering this week was expected to be the one where people were buying for March, there wasn’t too much activity even with the PRN/PERN going up by a couple of pounds.
Europe remains out of the picture, and those buying OCC for elsewhere were happy to let prices ease down. While one UK group was in need of material and paying above the rest of the market, others didn’t respond and were still able to get what they needed.
Mixed was unchanged, but reported shutdowns by some Chinese mills may affect purchasing from destinations that send pulp into China for both this and OCC.
Copper increased by £100 per tonne this week and brass by £50 per tonne. Other grades didn’t see any price movement.
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