The markets underwent considerable upheaval in April. After months of gains on cardboard and mixed papers, the markets came to a crashing halt. The last couple of months we have been watching for the impacts of China’s National Sword campaign. At first, is was just slowed movement of material because of enhanced inspection at the ports. This month the impact was felt in commodity values and we saw big drops in the value of mixed papers and cardboard, with mixed taking the biggest hit. The paper grades, and subsequently the commingle grades, fell further and faster than we have seen in years and there may be a few more bumps coming. Consistent movement of mixed paper could be a concern in the upcoming months. There are still the continued issues with movement and value of the mixed rigid plastics. After this large draw back, we are hoping we will see some improvements; but it could be a long road out. The National Sword campaign will have a lasting impact on mixed paper.