The Environment Agency released the verified packaging recycling and export data for Q2 earlier this month. Despite the final data confirming the positive, and somewhat surprising, figures for plastic recycling, plastic packaging recovery notes (PRNs) continue to rise.
In the first two quarters of the year, the UK has already achieved almost 54 per cent of the total 2017 plastic obligation. We now need an average of 219k tonnes of recycling in Quarters 3 and 4, which is considerably less than the level achieved in Q2.
Chris Taylor, Commercial Manager at Clarity Environmental, said the plastic market has not yet reacted to the data: “With such positive figures, the usual market reaction would be for plastic PRN prices to fall, but prices continue to rise amid the news that China intends to ban imports of mixed paper and many plastic scrap grades. If prices continue at the current rate, we could well hit the peaks in plastic PRNs that were last seen in Q4 2015.”
The Chinese Government has recently notified the World Trade Organisation (WTO) of its intention to ban the import of scrap plastics and unsorted paper by the end of the year. China’s proposed ban is the most recent in a series of crackdowns on the import of foreign waste, the latest being the National Sword campaign, launched in February 2017, which is targeting the illegal smuggling of ‘foreign waste’.
Chris continued: “Our PRN procurement team continually assess the market, and we are closely monitoring the situation with plastic PRNs, working with our members, other compliance schemes and direct registrants to help them choose the right PRN procurement solution for their business. Trading has continued to be strong for our team, despite being in the usually quiet month of August, and we welcome new buyers and sellers of PRNs”
Clarity has been buying and selling packaging recovery notes (PRNs) since our business started in 2002. We are now one of the largest and most experienced open market traders of PRNs. Whether you are a packaging compliance scheme or direct registrant obligated under the Producer Responsibility (Packaging Waste) Regulations, we can offer flexible trading options for Packaging Recovery Note (PRNs). Contact our team on 0845 129 7177 for more information.
