Trading activity continued to improve this week (ending 10 August) with prices in some material prices softening to towards buyers positions, according to prn trader’s director Ian Andrews.
“In Glass, both note high end values softened by a margin of 25p per tonne resulting in volume trading,” he said. “Wood values continued to increase up £5.00 per tonne on the previous period, the highest increase recorded this week.
“Smaller obligated Paper buyers paid a small premium to secure their annual obligations. In Aluminium, prices increased slightly for moderate volume, up £2.50 on the previous week with trading recorded at £32.50.
“July monthly figures were released this week and reported an increase in Paper and Steel volumes when compared to the same period in 2017. This was to be expected given the higher note values recorded this year as general buyers circle both markets.
“All other materials reported tonnages down on the previous year. In Aluminium, it is believed that some sellers implemented maintenance programs during the period resulting in the weaker volumes reported but no long term issues are expected.
“We saw further reports of export restrictions this week along with more negative commentary regarding the state of recycling capacity in the UK. These issues are nothing new to those in the industry and it is heartening to see a more collective effort in addressing them moving forward with reports that the quality of material now being produced from materials recycling facilities increasing.
“It is hoped the increased quality of material along with the effects of the current competition between the USA and China in impose punitive import tariffs may yet result in a resurgence of Chinese material trading opportunities for UK exporters.”