It was a subdued week ahead of the long Easter weekend, with not much movement occurring for prices.
There was a bit of PRN/PERN change for plastics in particular, which helped to bring down the price of packaging grades a little.
For paper, most trading had already been done for the month so there wasn’t much activity.
Metals though saw a decent drop for copper.
It is the case that there isn’t a lot of material around at the moment, and there is some hope that the long weekend will entice more people to shops and garden centres leading to more packaging on the market.
The pound remained at $1.24 at the time of writing, as it had been last Friday. But it gained a touch on the euro reaching €1.14 from €1.13 a week ago.
While there wasn’t a huge amount of activity this week, there is some hope that more people at the shops and taking UK holidays will lead to more packaging material on the market.
Demand for plastics remains steady, but this holiday period could change the demand/supply balance.
After increasing a little earlier this week, the PRN/PERN ended up down by around £10 per tonne on last week. Packaging grades responded to this fall.
Many had bought for April the week before, hoping to ensure any material was moving before the curtailed next two weeks when haulage and shipping would be a bit harder.
As a result, there wasn’t a lot going on, but there is some hope that there will be more material available over the next few weeks, and some suggestion that some European mills come back into the market at least tentatively.
Of course, much will depend on the appetite of deep sea buyers, especially if they have stocked up in recent weeks.
Copper was down £250 this week, brass by £50 and aluminium grades by £100. All other grades were unchanged.
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