The value of household paper, cardboard, plastic and metal skyrocketed over the last year, setting Maine’s recycling industry on steady footing after years of losing money in a slumping commodities market. Prices soared as new U.S. mills came online to process recycled waste into new products at the same time demand surged during the pandemic for products such as toilet paper and packaging material and prices rose for some “virgin” materials. Some analysts think the recent boom could be a course-correction after a prolonged market downturn blamed on China’s ban on most recycling imports three years ago.
“The value for every commodity has increased,” said ecomaine spokesman Matt Grondin. “Across the board, paper, cardboard, all the plastics and both metals are up fairly significantly over the last 12 months.” The soaring value of mixed paper – a combination of magazines, junk mail, office paper and paperboard packaging – shows the magnitude of the changing market.
Last July, ecomaine was losing $27 dollars on every ton of mixed paper that came through its loading docks. That same ton was worth $56 a year later, a three-fold increase. The value of mixed paper is critical because it represents the single biggest type of recycling ecomaine handles, making up about one-third of all materials. Other materials have gained, too. The value of all types of recyclable plastic rose, with the price for #2 HDPE colored – the plastic in milk and detergent jugs – jumping more than tenfold, from $100 a ton last July to almost $1,300 a year later.