Despite increased export prices, the level of recovered paper being sent from Europe to the Far East has remained stable, stated the latest market report from the Bureau of International Recycling.
BIR paper division president Ranjit Baxi of J&H Sales International, a firm based in London, noted that there had been a “major reduction” in the number of exports from Europe during the first two weeks of October 2007. This was a result of freight charges jumping by as much as $950 for a 40-foot container.
However, Mr Baxi confirmed that after the initial shock, European paper merchants and Asian mills managed to absorb the price increases.
He said: “European merchants and Asian mills each absorbed part of the freight increase to arrive at a workable position, resulting in increased European exports in the second half of October at prices of $210 plus-per-tonne for OCC [used cardboard]“.
In the UK, reports demonstrate that in Ocotber, almost 204,000 tonnes of recovered paper was exported to China , which was close to the average for 2007.
David Symmers, chief executive of the UK’s Independent Waste Paper Processors Association, explained that,”Some mills reduced their prices for mixed and OCC but others held firm, indicating a belief that export demand will remain strong and be reflected by a price recovery early in 2008.”
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