Sentiment on the British recovered paper markets deteriorated sharply in June.
As recently as May, many players had expressed hope that the post-Covid downturn would occur more slowly – at least for some grades. But buyers from the Continent, who had been the main drivers of the price rally in the UK, have now disappeared just as quickly as they had arrived on the scene, say experts.
Buyers from Turkey and Asia cannot or do not want to fill the resulting gap: India is struggling to stem the spread of the pandemic and demand from other markets is weak, not least because buyers anticipate further price reductions. "It helps a little that recovered paper arisings are still below the typical level for this time of year,” one expert told EUWID.