The value of glass packaging recovery notes (PRNs) is holding up, despite predictions earlier in the year that we could see it drop again.
Over the past few weeks the PRN price has fallen from £10 per tonne down to £8.50 to £9.50 per tonne at the beginning of June but seems to be moving within these boundaries only.
Environment Exchange senior market operator Tom Rickerby said: “Glass is showing a bit of volatility but it’s not too much of a significant change in price. It is just a result of what people are buying the PRNs for. So the glass PRN is holding up.”
However, according to the figures of PRN trading platform Scrap-Ex, at the beginning of April the PRN price for glass was trading between £11 and £12 per tonne. Since the Q1 PRN figures for 2011 were published the price has gradually moved down and is currently trading around the £9 per tonne mark.
When Q1 PRN figures for 2011 were published in April, Recresco director Tim Gent warned that we could see a drop in the price of the glass PRN because of the low collection figures.