The market for recycled commodities calmed down this week as a whole with the plastic sector seeing some signs of stability for once.
After the extreme volatility in plastic PRN/PERN values last week, where it rose to above £500 only to fall to £250 within hours, this week saw the price largely where it was at the end of last week.
That also helped to keep the physical material price unchanged this week.
There was a small increase in price for OCC and mixed, but news & pam has dropped back.
Copper increased by £50 per tonne, while steel grades lost £5. More on all of this below.
Against the dollar, the pound was unchanged on a week ago at $1.26. However, it weakened against the euro to €1.11 down from €1.12 last week.
It was a week of stability after weeks of volatility previously.
With the PRN/PERN price at £250, this was the same as the previous Friday. After last week’s rise to £500 and subsequent fall, it gave a bit of recovery time for the market.
There is an element of wait and see, particularly as people are now deciding on prices for July. The next set of packaging data is also due, and could provoke a reaction.
Demand for packaging grades was relatively subdued compared to recent weeks as people wait to understand what their next move should be. Despite that, material was still moving, with Europe still keen to take good value UK material.
Although many in the recovered paper market said that prices had not changed, the data suggested it had risen to between £55 to £60 for most destinations this week.
This compares to high £40s to low £50s last week.
Apparently some Chinese quota was being filled, while there was also some interest from Europe. UK mills were reported to be quiet.
Mixed also gained some extra value as a result of increased interest from South East Asia and Europe.
Will this last? Well, purchasing was for July so may not be sustained, but indications remain that there might be a small pick-up in the usually quiet month of August.
Copper grades responded to an increase on the LME by rising by £50 per tonne.
Steel fell by £5 per tonne as the British Steel situation concerned the market. Can prices were also affected.
For recycled paper prices, click here
For recycled plastic prices, click here
For recycled metal prices, click here
For recycled glass prices, click here
For PRN/PERN prices, click here