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PRN Market Overview 16 March 2018

PRN Market Overview

This week, an increase in the top end Paper price has been seen from a shortage in available supply resulting in some upward pressure. There has been a sizable increase in Paper being forward contracted and it is thought that a lack of available Q1 supply has contributed to the price increase. Good demand continues to be recorded in Plastic and this has resulted in the spread closing with buyers unwilling to risk leaving purchasing until later in the year. Wood still dominates early year discussions with prices continuing to increase albeit in small increments. Concerns raised surrounding Steel availability as highlighted in the lower February figure appear to be unfounded with prices falling back this week. 

Throughout the week WRAP and INCPEN have been running workshops with a number of different stakeholder groups to discuss improvements to the PRN system. This review is long overdue and is hoped will result in more focus being placed on domestic reprocessing infrastructure in the wake of the problems emanating from the Chinese market. It has been rumoured that a split plastic target may be on the cards but many sellers have voiced concerns that they will be required to police and determine how the material grades are split something which most have said is unrealistic. In other news the National Audit Office is undertaking a review of the PRN system to assess its effectiveness and whether measures to deal with fraud in the system are robust enough, again something which has been long overdue and greatly welcomed.

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