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Currency changes UK market

10th April 2013

Currency changes UK market

The UK has been a bit of a special case for the last year due to the currency situation, which has resulted in British prices being much higher than those in the eurozone when converted into euros.

At the start of the year, some contacts reported price decreases of around £10/tonne, but many said prices remained sta­ble. Because of the currency situation, the UK has not been seriously targeted for a price increase in Q1. February prices for 100-g reels stood at £570-600/tonne and for 115-g sheets at £660-710/tonne.

But as the pound has weakened against the euro and the British prices are nearing those on the continent, some producers are now turning their gaze toward the country as they plan their next price moves.

“There’s no increase now [in the UK], because we’re busy repairing prices in Germany. But we will go for the UK next time we announce a price hike for April,” one supplier said.

A merchant considered thoughts of price increases as against the market trend. “List prices remain stable, but if you want to make a deal you only need to make three phone calls,” he said.

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