Underlying prices seem to be falling for paper and plastics grades, although the PRN/PERN value is helping to keep up the value of the latter.
Both OCC and mixed slid lower this week, while an increase in the PRN/PERN helped to push up plastic packaging prices.
While paper values are definitely falling, there is a view that underlying prices for plastics will come down too based on less demand from European markets in particular.
Metal grades, copper in particular, are flying with values increasing again this week.
The pound is stronger again against the dollar at $1.39, which was last seen just over a month ago. The euro was just a touch higher at €1.15 from €1.14 last week.
The rise in the PRN/PERN by around £20 per tonne this week, helped to give packaging grades a boost.
It seemed to go up on the basis that it was the end of the month, and there was some efforts taking place to boost the price.
However, the underlying picture for plastic markets seems weaker. Demand seems to be easing into Europe in particular, which is pretty much the export market now with some exceptions such as Turkey and Malaysia.
While this hasn’t translated into price falls yet, there is a view that film grades in particular are likely to fall.
Bottles are slightly different as we get closer to peak season for PET, and initiatives to promote milk bottle recycling support the price of HDPE bottles.
Prices have started to come down for OCC and mixed paper as the market appears more challening.
While generation is still poor, there is less demand coming from end markets.
Both European and Asian buyers seem to have less need for material, and volumes to India have dropped due to the horrific impact of Covid on its populace.
Some are hoping this easing is temporary and prices will bounce back up soon, but others are more wary and believe prices will not recover until mills start buying for Christmas.
Mixed has managed to hold up reasonably well, but transactions below £100 are becoming normal and are expected to become even more so in the coming weeks.
News & pams and SOW/multi seem to be holding up.
Copper grades keep roaring with dry bright wire now back above £6,000 per tonne. Prices like this haven’t been seen since early in the 2010s. Copper grades increased by £325 per tonne this week.
Brass was up by £50 per tonne, while aluminium grades increased by £100 per tonne.
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