Market Report

Apparantly fairy tales are not real after all 

NL-Tilburg, 23 August 2026

The big news of the (Thurs)day was that VPE Eerbeek (NL) won’t be restarting after all. At least not with the initial promoters who had been put forward earlier. The receiver was furious, but he’s got a lot to answer for himself, since he clearly didn’t do his homework. And obviously never demanded something simple like a bank guarantee. The entire paper and board industry was calling it a daring feat if this were to work out. After all, MM—with extensive knowledge of cardboard manufacturing and financial expertise—saw no future in it five years ago. Oaktree, with little understanding of cardboard manufacturing but a deep pocket, let the mills in Eerbeek and Baiersbronn go to the dogs—and yet the mill in Eerbeek was supposed to remain viable? Fairy tales don’t exist, as it turns out.
A bitter disappointment for the employees who thought they still had a future at VPE.

The situation appears to be different at the RdM factory in Arnsberg (Germany). MM acquired that mill from RdM, which was in financial distress. It was explicitly stated that this was an asset transaction—apparently just to make it clear that the creditors’ position is by no means secured. Incidentally, the creditors had largely become owners of the group alongside the bondholders, when recently Apollo Global Management had withdrawn after five years.

And what about the rovered paper market? Overall, it looks quite positive. Demand for all grades remains strong. The optimism in the recovered paper trade points to higher prices for September. But whether that will actually happen remains to be seen. In Southeast Asia, prices have risen slightly for card board grades, but there are also mills that aren’t even willing to buy occ from Europe. With the significantly weakened dollar—which depreciated by 2% in two weeks—European recovered paper has also become much more expensive for buyers who pay in dollars. The expectation is, however, that U.S. prices for certain grades, at least the cardboard grades, will pick up in September. In Europe, however, that does not seem to be the case yet. According to most mill buyers, there is sufficient supply.

This does not apply to middle and high grades. Demand for these has increased, likely due to the low generation during the summer period. But, other than 

with the low grades, it is highly doubtful that the generation of these grades will increase to old levels. So, there may be room for price increases there. We’ll have to wait and see.

Another positive development: Contrary to what was previously stated in the PPWR, (corrugated) cardboard packaging will, after all, be exempt from the mandatory legal targets for reuse. This means that companies do not have to switch to reusable packaging, provided they meet the standard recyclability requirements. The latter isn’t that difficult—it’s been proven for 50 years. So, the concern about even lower volumes of waste paper for our sector in the future has thus been alleviated. For now, anyway.

Price indication

Price indication in Europe for low grades of recovered paper, sorted, baled and ex works are now between € 60 and € 80 per tonne. These prices are depending on quality, available volume, region and loaded weight.

Look here at the Price chart >> 
  
The price chart gives an indication of the price  of mixed paper, separately collected, in the Netherlands free delivered mill over the last 10 years.
Scrolling over the top of the columns gives the exact price indication in Euro's per ton.