As the compliance year draws to a close, Chris Taylor, Clarity’s PRN trader, comments on the current state of the PRN market.
“Many buyers coming to the market are making their final purchases and suppliers are taking advantage of the demand by raising their prices where they can.
“The start of 2013 has, on the whole, seen trading continuing at high levels on the forward market, especially in the lower-priced grades such as paper and recovery. However, we’ve seen very little glass being traded so far this year, with suppliers holding out for the release of the end of year data and a true picture of the situation before setting prices.
“Whilst the UK was not expected to have met 2012 recycling targets for glass, we have heard recent murmurings that we have indeed hit targets. If that is the case we expect that most, if not all, of the country’s stockpiled glass will have been depleted and this will once again leave the UK with the huge challenge of meeting the glass targets for 2013.”
Up until the 31st of January, PRNs can still be traded for both compliance years but time is running out if you need any tonnage to complete your 2012 certificate of compliance. Contact our trading team if you are looking to buy or sell PRNs.