Sunshine and easing demand meant many recyclate traders went outside and took a couple of days off this week.
As a result, it was a relatively quiet market for most materials.
OCC slipped back a bit in paper grades, while plastics were largely stable. Copper and brass increased in metals though.
Those recyclate traders who were able to sell to deep sea destinations saw a stable pound at $1.24 – unchanged on last week. For those still able to see in Europe, they also saw a stable euro at €1.10.
With no effective change in the price of PRN/PERNs this week, plus stable demand and foreign exchange rate, there was no difference in the price of any grade compared to last week.
Even despite the low PRN/PERN price, it is still making UK material competitive, especially into Europe where the market is challenging at present. UK buyers are ticking over, while some material is heading to Malaysia.
Reports of dumping in Turkey could undermine what has become a very important market for UK material.
Additionally, there are strong rumours the Environment Agency is investigating the over-supply of plastic PRN/PERNs including potentially illegal activity.
Situations such as that in Turkey and the recent announcement that Latvia is returning waste back to various UK companies, shows the actions of what it probably a minority has the potential to undermine the whole industry.
With falling demand for OCC from Europe, weaker demand from Asian and UK mills, it was inevitable that the price would come down a bit.
Approximately £5 came off the value this week as a result.
The market appears to be trying to work out what is going on. Mills are wondering how much demand there will be for finished product now global economies are re-opening. While those selling and trading are trying to anticipate when they can get the best price.
Stalemate has been the result over the last couple of weeks, although it seems some have relented enough for the price to ease off a bit.
Other grades of paper were stable, with the exception of multi which has seen increased demand and a price rise has followed.
Copper grades were up by £125 per tonne and brass by £50 per tonne, with everything else seeing no change.
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For recycled metal prices, click here
For recycled glass prices, click here
For PRN/PERN prices, click here