PRN Market Overview
This week there has been some frenzy activity as traders looked to close positions for the year. It should be noted by sellers that they have until the 31st January to sell their remaining 2017 balances including tonnage generated before December. Plastic continued to see volatility with those volume buyers still seeking tonnage creating some upward pressure on the price as it bounced back towards the high forties. December plastic has seen a premium of £5.00 paid above the 2017 price as buyers concerns persist regarding early availability for 2018. While the supply figures indicate little concern regarding the glass supply some tightness in availability has resulted in prices firming up slightly with the position also firming up transitional prices. Many traders have questioned the validity of the higher aluminium prices now being requested by sellers as it would appear small documents achieving a premium at year end are pulling up the price for remaining volume buyers. The published figures and monthly updates appear to show little concern regarding availability of aluminium so one must put this down to the underlying dynamics of the market.
Thank you for all your support in 2017. I look forward to provided further assistance and impartial reporting of the published figure through 2018.
Merry Christmas & Happy New Year.