Chinese demand for recyclable materials helps boost prices, WRAP tells MPs
Greater demand from China is helping to increase prices for recyclable materials from the UK, WRAP’s Director of Market Development, Marcus Gover will tell an Associate Parliamentary group of MPs, Peers and industry sector representatives in London today.
It would appear that the Chinese New Year break has not affected the market, according to latest data released today by WRAP (Waste & Resources Action Programme). Overseas buyers returning in recent weeks are helping to push prices up £15 per tonne for cardboard, £10 per tonne for mixed papers and £5 per tonne for steel.
This is welcome evidence of improving and stabilising markets for recyclables, a meeting of the Associate Parliamentary Sustainable Resource Group will hear this afternoon. Materials are selling with high quality materials experiencing fewer difficulties achieving value and finding markets.
“Our research shows export demand returning in recent weeks from Europe, India and especially China where the Chinese New Year break appears to have had no impact on the steady market progress,” says Marcus. “Lower freight charges and fuel costs, as well as the weak pound have also helped to boost overseas markets.
“Overall, the latest data suggests the markets are on a more stable footing with recovered materials holding onto price gains. However, high quality is still critical for moving materials and achieving high prices, especially for mixed papers and plastic bottles. The figures are certainly encouraging, but it would be too early to say if we have a turning point just yet,” he added.
WRAP collects market data from key industry sources to monitor closely how the recycling sector is faring. Regular updates are published on the website www.wrap.org.uk.
Editor's notes
- WRAP helps individuals, businesses and local authorities to reduce waste and recycle more, making better use of resources and helping to tackle climate change.
- Established as a not-for-profit company in 2000, WRAP is backed by government funding from England, Scotland, Wales and Northern Ireland.
- Working in seven key areas (Construction, Retail, Manufacturing, Organics, Business Growth, Behavioural Change, and Local Authority Support), WRAP’s work focuses on market development and support to drive forward recycling and materials resource efficiency within these sectors, as well as wider communications and awareness activities including the multi-media national Recycle Now campaign for England.
- More information on all of WRAP's programmes can be found on www.wrap.org.uk