There was stability in the market this week on the whole, but there was some movement for OCC and mixed paper in particular.
Some packaging paper grades seem to have momentum at the moment, but otherwise plastics and metals are waiting to see if the supply/demand balance will change.
What seems to be true across markets is that European buyers seem to have little appetite at the moment, and any demand seems to be coming from deep sea destinations.
Traditionally, the build-up from September to Christmas is a busy time of the year, but some grades seem to be taking time to attract interest, while others such as OCC and mixed have been on the rise in recent weeks.
There was also stability in the currency markets with the pound unchanged at $1.22 and €1.15 when compared to last week.
There was little movement in price this week, although there was a little tension between supply and demand that balanced things out.
European buyers, which represent much of the export market these days, along with UK counterparts are trying to push prices lower in response to still reducing prices for finished goods.
But Turkey and deep sea such as Malaysia and Vietnam are paying a little higher. Therefore, those with material are looking at options including either pre-notifying where required, or sending to the Netherlands for processing before it being sent to South East Asia.
The question for the coming weeks will be whether this keeps prices in balance, or if dynamics change in the domestic and export markets.
Prices for OCC continued to increase this week, with mixed paper also following its lead.
Deep sea markets were dominating with some rumoured to be offering close to £115 per tonne, but most somewhere between £100 and £110.
European buyers just were not interested and were offering £20 to £30 less than this if they were even putting prices out there.
With rising OCC prices in the last couple of weeks, mixed was also getting more attention as buyers sought to get more value from the market. Mixed was therefore attracting anywhere from £60 to £75 per tonne, although the market was bunched more around mid-£60s.
Other grades were largely stable this week.
A £5 increase in the price of ferrous grades was the main highlight this week, with non-ferrous unusually static.
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