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Weekly PRN Market Report – Friday 22nd December 2017

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.

221217 PRN Market Overvew
Weekly PRN Market Report – Monday 23rd October 2017

PRN Market Overview

The Q3 supply figures have now been released and provide a clearer picture as to how the rest of the year will proceed. The main material of interest, Plastic reported 274,000 tonnes, some 20k ahead of quarterly demand and although not as high as predicted with some 16 companies still to sign off their Q3 return there is time yet for this figure to grow. The positive news is that the evidence note subsidy has done its job in firming up supply during the quarter. Glass aggregate supply continues to struggle reporting a deficit of 26k against demand for the quarter but with a sizeable upturn in Remelt tonnage in Q3, 40k up on Q2, any concerns about supply tightening should be addressed. All other materials performed strongly with Paper showing some increase on the previous quarter. At the time of compiling this report there were over 40 companies still to sign off their Q3 return so one would expect to see some increase in these figures even if only for the final month of the Q3 quarter. The published figures will be reported on the 9th November. It will only be then that we can confirm the position going forward.

This week Plastic prices continued to soften as more supply became evident. Sellers, who up to this point had been happy to hold tonnage, returned to the market seeking trading opportunities. Buyers confident that supply had recovered remained bullish on price and held out for best value forcing a sizeable drop in value. Paper supply remained hard to source with those suppliers holding tonnage able to command a premium. Steel values dropped towards general recycling buying levels in advance of the Q3 return. All other materials continued to trade between previously reported spreads as demand flattened with buyers holding off committing in advance of the Q3 supply return.

231017 PRN Market Overview