PRN Market Report – Wk. End : Friday 5th October 2018
PRN Market Overview
Renewed interest from general recycling buyers resulted in Glass prices increasing during the week. Buyers initially targeted Aggregate supply however when supply became hard to source many turned their attention to the Remelt market which resulted in prices increasing in both markets. An easing of Wood supply was evident with volume tonnage being offered to buyers albeit at higher than current market prices.
We are due to see Septembers supply figures reported next week and this coupled with the Q3 supply figures (22nd) should provide some insight into the challenges ahead before the end of the compliance year. All prices, with the exception of EFW notes, have been at record price levels this year so one would expect to see supply in good health. Reflecting on the last set of figures released for Q2, we had seen a record return for Plastic yet over the last quarter prices have continued to rise. Some commentators have said that this has been down to the domino effect of Far East countries implementing more stringent quality protocols taking the lead from China. There has been some dispute regarding the actual figures with HMRC export numbers not tallying with reported prn supply for the year. Regardless of the ongoing debate regarding the current figures it is expected Plastic will again meet its target.