During last autumn, the prices of recyclable materials faced a severe crisis and as a result, tonnes of recyclable material piled up in warehouses. This trend may end within a short space of time as prices of recyclable materials start reaching the levels that existed during pre-crisis period.
According to research published by Waste and Resources Action Programme (WRAP), an organization sponsored by the government of the UK, the demand for recyclable materials has retained to pre-crisis level of 2004-2008. As a result, their prices too have reached the normal levels prevailed prior to 2008.
In November, 2008, the recycling industry in the UK faced a severe crisis when China, its main buyer of recyclable products especially paper and plastic waste, decided to stop buying the material since the demand for its end products went down drastically and hence, prices for various recyclable materials came down to almost zero. For example, the price of mixed paper and cardboard waste was £70 per tonne during the pre crisis period and the same price reached below £10 within a few weeks when the crisis started.
However, according to latest market reports, the prices of recyclable materials started increasing during the recent past. For example, the price of waste newspaper is £50 per tonne. The same price was £55 during 2004-2008. The prices of all types of glass waste too have reached the average level that prevailed during the pre-crisis period.