The third quarterly data release of 2023 indicates robust production and a steady recovery across most of the compliance year so far. A notable highlight of the latest data release is the significant surge in Glass Other recycling, more than doubling the addition from the last quarter.
Reprocessors are required to submit quarterly PRN market recycling data for their regulatory compliance, resulting in upsurges in the quarterly recycling data releases compared to voluntary monthly reports. Although this year’s quarterly boosts are reduced compared to previous years, the data reflects positive progress toward recycling targets. This decline in quarterly boosts may be attributable to improved voluntary monthly reporting by reprocessors, rather than a decrease in overall production as Q3 is looking very strong as a whole.
It is important to note that while reprocessors are required to submit quarterly data, some major reprocessors are yet to submit, potentially resulting in a significant amount of unaccounted material in the data release. Another factor to consider is that despite the reduction in overall recycling obligation this year, many packaging producers are yet to register their obligations for 2023. Whilst it is believed that the largest producers are registered, this uncertainty in demand could cause prices to remain as they are across most key grades in the immediate term.