Posted on 26/07/2017 in category Paper

BIR World Mirror on Recovered Paper / Quarterly Report - July 2017

Ranjit Baxi, J&H Sales International Ltd

International Markets with a focus on Asia

Supported by strong domestic dynamics and healthy global demand, Chinese economic growth registered 6.9% in the second quarter to match that of the previous three months. Emerging economies are expected to grow at an average of 3.7% and the projection for the EU is 1.7%.

During the second quarter, exporters became concerned about the possible impact of the enforcement of China’s “Border Gate Sword” operation, with an announcement of the implementation of 100% control on all scrap imports during July. This certainly had an effect on exports to China during May and early June, with exporters looking more aggressively towards new markets for the purposes of diversification.

The good news was that sea freight rates were not able to hold at the very high levels attained during the first quarter. A noticeable decrease in rates was seen in the second quarter, dropping from levels close to US$ 2000 per 40-foot container to nearer US$ 1200 (...)

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