SINGAPORE, Sept. 18, 2001 (paperloop.com) - Asian wastepaper prices have been driven up due to reduced supply from Europe and the US. Most grades have seen price increases of $5-15/tonne. But the prolonged economic downturn in Asia may result in the weak finished paper market deteriorating further. Sources forecast that recovered paper prices may move down after October. Wastepaper supply from Europe has gradually come back to normal this month after the vacation period ended in August. But shipments from the US could be affected following the terrorist attacks in the country on September 11, as New York is a major collection area. Two hijacked airplanes crashed into New York's World Trade Center buildings, which paralyzed the city's activities. Shipments from the US west coast have continued following the incident, but those from the east coast were disrupted, sources reported. Back in Asia, China is boosting its purchases of recovered paper to feed new machines, in particular waste-based containerboard PMs. As a result, demand for old corrugated containers is picking up and prices are moving upward. The rebound in the Asian pulp market also helped to push up prices for pulp substitutes. Sources reported strong buying of these grades in India and southeast Asia. Prices for old newspapers (ONP) also increased even though the Asian newsprint market has been troubled by oversupply. The hikes came as a result of reduced ONP collection in the US and Europe.