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PRN Weekly Report 13th April 2018

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Packaging Recovery Notes Market Overview

Price increases were seen this week in Paper, Glass Remelt and Wood. In Paper, the continuing lack of supply resulted in prices increasing again this week with the market appearing undersupplied due to some substantial forward contracting secured in late 2017.Annual demand from independently obligated companies entering the market has also provided some upward price pressure. Talk of some issues affecting export Remelt tonnage combined with the undersupply position reported in Glass Aggregate notes has resulted in a small increase in the Glass Remelt price this week. In Wood, the price has risen again as traditional early buyers competed with concerned volume buyers to secure their tonnage. 

The monthly figures for March (see below) have reported an improvement in the Wood supply when based against last year but remain some way of target and are expected to do little to stem the increased prices in the short term. Worryingly the Paper volumes reported are considerably below last year’s figure and provide some evidence of the concerns voiced by exporters of mixed Paper. The Q1 published figures are due to be released on the 23rd of April and on the evidence of the latest monthly figures buyers will be hoping for increases for Paper and Wood supply in order to head of further price increases this year.  If the system is to work as its designed then short term price increases should bolster supply going forward.