Following a record-breaking trading month in January, February has remained busy for our packaging recovery note (PRN) team, who have traded almost five times more than the same period the previous year.
Whilst trading is brisk, most PRN grades started the month with prices at relatively elevated levels, particularly in the case of paper and plastic, due to the continuing fears over the impact of the Chinese import restrictions.
Clarity PRN trader, Daniel Fullylove, said that production for plastic and paper has, however, been healthy: “Plastic is around 300 tonnes up from 2017, with 28,354 tonnes reprocessed by early February. Paper PRNs are also up by over 30,000 tonnes from this time last year, with a total of 151,742 tonnes reprocessed.
He added: “Wood is the major concern for this year, with the recycling target almost doubling and production for January down 6,951 tonnes from last year. The prices have responded to this shortage, rising over four times higher than they were 12 months ago.”
Steel and glass continue to look comfortable, with both grades starting the year in steady fashion and they look on course to be well over target for the year.
The new targets for packaging waste recycling for 2018-2020, that were announced in the 2017 Spring budget, have recently passed into law and can be viewed on our website.
If you would like to talk to Clarity Environmental about buying or selling any grade of packaging recovery note (PRN), contact a member of our PRN trading team team on 0845 129 7177.
