Pricing recycled plastic packaging bales was a challenge this week as a rapidly falling plastic PRN/PERN price hit hard.
For packaging grades, the physical material increased in price over recent weeks as the PRN/PERN price surged, but they are now dropping as the reverse takes place. More below.
In paper, a small increase was seen for OCC in what was otherwise a still quiet market.
Metal prices were also static with no price changes seen.
Those who are exporting to deep sea destinations found a slightly advantageous pound helped them, as it eased from $1.26 a week ago to $1.25 this week.
The euro remained at €1.11.
As mentioned above, the rapidly falling PRN/PERN price was the main news in the recycled plastics market this week.
Just two weeks ago we reported on a PRN/PERN price for plastics that had jumped above £500 before crashing back to £250.
This week it fell even further. At the time of writing it had ended yesterday at £175 but was now at £150 and could go lower as the day carries on.
It is thought by some that the market could go as low as £100 today or early next week. The question will then be if the reaction has forced the price too low, and it will bounce back up again.
The reality is that the market is volatile, meaning some will benefit and some will be hurt, depending on how they deal with the challenges of a volatile market.
Physical packaging prices dropped by £50 for bottle grades and £60 for LDPE film. That was at the time of writing though, and it is hard to price packaging grades in a rapidly falling market.
Not much was happening in a very quiet market.
OCC increased by a couple of pounds due to slightly more interest in the market, aided by not too much material being available.
Although prices remain low, it is also important to remember that prices have increased by £7 per tonne for OCC in the last two weeks, and that slow growth could continue for a few weeks yet.
Mixed and news & pam saw no change. It is also reported that there is a bit more interest for SOW from Germany.
Metal prices were unchanged this week.
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