In May, the British market for recovered paper saw a noticeable downward correction. While at the beginning of the month, only the highest quotes recorded in April were trimmed, the downtrend accelerated as the month progressed. According to market participants, paper mills in the UK and Continental Europe now hold ample stocks. In some cases, agreed upon volumes were not being called off or buyers were asking for significant price reductions – a clear sign of waning demand.
Buyers expressed fears they could be "inundated" with additional volumes in late May, as suppliers apparently want to profit from the higher prices before prices drop further in June. "It is currently very difficult to get orders from the Continent," commented one market player....
