Christmas is definitely at the forefront of minds on the market now with just two weeks of trading left before the big day.
Even so, there is an expectation that things will quieten off more than they have already as it gets closer.
Trading was generally sluggish this week with even those grades that had been popular-ish in the last couple of weeks easing off in terms of trade.
There is also the uncertainty of the transitional PRN/PERN market as traders think about both this year and last year. However, for current rather than transitional PRNs/PERNs, the market was relatively stable.
Even the pound saw no change compared to last week at $1.25 and €1.16.
There was a bit of a pick-up in prices this week for bottle grades as buyers looked to get stock ahead of Christmas, mostly to UK outlets although some to export too.
Film grades were adjusted by the value of the PRN/PERN, which fell by around £5 per tonne.
But overall conditions for plastics remained challenging and markets were quiet. There wasn’t a huge amount of trade happening, and some don’t expect much to change in the couple of weeks before Christmas.
It is too early to get indications for transitional PRNs/PERNs, but the next week or two may see some indication of what early 2024 will bring.
After the recent flurry of interest in OCC from mills in deep sea destinations, this seemed to ease off a bit this week.
Prices came down by a couple of quid or so as some of the buying to get material on the water before Christmas, and ahead of Chinese New Year when shipping can be disrupted, started to ease off.
Other grades were largely unchanged.
With mill groups in Europe expected to take maintenance breaks or longer holiday periods, there doesn’t seem to be anything that will boost the market in the next couple of weeks.
Therefore, most traders are now thinking about January and where the market will be then.
Copper was down £50 per tonne and brass by £100 per tonne. Ferrous grades added a fiver however.
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