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PRN Market Report – Wk End : Friday 15th June 2018

PRN Market Overview

This week we saw all materials, with the exception of EFW prns, trade up into double figures. The Paper and Steel markets continued to compete for general recycling buying with each material increasing incrementally in value. The Plastic price increased again with many questioning where this latest price pressure was emanating from. After further investigations it would appear a small downturn in the published monthly return report on the export side has resulted in some concern being voiced by traders.  Given the strength of this year’s carry in figure it is surprising to see buyers react so early. Concerns raised regarding the backing up of material destined for the alternative export markets of Malaysia & Vietnam appear to have lifted with sellers reporting material moving freely again. The Wood price increased further this week as we moved towards the biomass subsidy level reported to be between £40 - £50 per tonne. It has been surprising to see little change in the supply figures for Wood given the strength of the evidence note value. There have been reports that some material sellers in the supply chain have seen no benefit from the increased note value which may point to the problem. In Aluminium, prices drifted back with weakening demand resulting in a lack of trading.  Both Glass markets reported stable prices this week with no variation on the previous weeks prices. Glass Aggregate supply remains weak with buyers reverting to Remelt notes to cover obligations.

As we head into the second half of the year all markets will need to see improvements in supply if the upward price pressure is to be addressed. Wood sellers feel that the current note values remains some way behind the biomass subsidy and expect prices to continue to rise. It looks like Paper and Steel will continue to contend for general recycling demand however with prices moving closer to the Glass note values we may see that market added to the mix.