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PRN Monthly Update: Glass & Plastic PRNs in Focus

The verified Quarter 3 packaging, recycling and export data was released this month on the National Packaging Waste Database, with no major changes to the figures reported in the interim data.

Quarter 3 productions indicate that all grades have reached at least 75 per cent of their individual grade targets when carry over is included within the calculations, indicating that we are likely to meet the UK targets for 2018. These percentages include a further 205,860 tonnes, which has been added across all grades to the UK packaging obligation.

The focus throughout Quarter 4 will be on the performance of total glass and plastic production. With both grades just performing to target after the official data release, and production falling from the previous quarterly figures, both grades will require strong production through the rest of the year to meet the annual target.

The monthly data, reporting PRN production in October, was also released this month. The figures show that aluminium had a strong performance in the first month of this final quarter, with over 12,000 tonnes being reported. Aluminium now sits just under 84 per cent of its target for the year, which indicates that the grade should comfortably hit its target. The data doesn’t seem to reflect the cost of the aluminium PRNs, however, with prices continuing to increase and now reaching their highest levels since 2005.

The October PRN production for paper and steel PRNs show that when carry over is included, both grades have now surpassed target for the year. Much of this surplus production will be bought to fulfil producers General Recycling obligations in the remainder of the year and Sam Caplen, Business Development Executive, at Clarity Environmental said it remains unclear whether PRN prices for either grade will soften towards the end of the year. “Glass and Plastic PRNs continue to keep pace with each of their grade targets, but with the PRN production figures suggesting that the obligation for the year will only just be met, we have started to see prices for both grades creep up through November.”

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. To talk to our team about buying or selling any grade of packaging recovery note (PRN), contact us on 0845 129 7177.

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