The Environment Exchange (t2e) said it saw a record number of packaging recovery notes (PRNs) traded in 2018.
T2e said more than 1.5 million tonnes of PRNs were traded, an increase of 23% on the previous compliance year and surpassing the previous record of 1.3 million set in 2016.
PRN trading split between 863,397 tonnes on the 2018 spot market and 644,870 tonnes across forward markets.
There was a record 2,608 contracts traded on the t2e platform, up 39% on the previous year.
Head of trading Tom Rickerby told MRW that the PRN markets had been unsettled by “the Chinese import ban, additional restrictions in other south-east Asian export markets, stagnating recycling rates and growth in recycling targets, deep sea freight disruption, higher waste quality standards and greater scrutiny from the regulators”.
He added: “The result has been greater market uncertainty, more price volatility and a greater demand for better market intelligence, price transparency and contractual security within the PRN system.
“These are conditions that have suited trading on the exchange and allowed us pass on additional added value to our members.”
| Spot & Forward 2018 | Average Traded Price | High Price | Lowest Price | Volume Traded (tonnes) |
|---|---|---|---|---|
|
Aluminium |
£85.62 |
£150.00 |
£15.50 |
11,479 |
|
Glass Other |
£24.11 |
£46.00 |
£10.00 |
19,740 |
|
Glass Remelt |
£19.41 |
£46.00 |
£11.00 |
115,812 |
|
Paper |
£7.09 |
£28.00 |
£0.90 |
706,429 |
|
Plastic |
£71.86 |
£140.00 |
£45.00 |
315,660 |
|
Recovery |
£0.44 |
£1.25 |
£0.30 |
88,195 |
|
Steel |
£11.80 |
£27.50 |
£4.95 |
134,001 |
|
Wood |
£35.02 |
£71.00 |
£4.25 |
116,951 |
|
TOTAL |
1,508,267 |
|||
| Material | 2017 Average Price (£) | 2018 Average Price (£) | % Change |
|---|---|---|---|
|
Aluminium |
21.80 |
85.62 |
293% |
|
Glass Other |
11.06 |
24.11 |
118% |
|
Glass Remelt |
11.82 |
19.41 |
64% |
|
Paper |
1.11 |
7.09 |
539% |
|
Plastic |
48.51 |
71.86 |
48% |
|
Recovery |
0.41 |
0.44 |
7% |
|
Steel |
5.22 |
11.80 |
126% |
|
Wood |
2.30 |
35.02 |
1423% |
| 2017 Volume (Tonnes) | 2018 Volume (Tonnes) | % Change | |
|---|---|---|---|
|
Aluminium |
9,860 |
11,479 |
16% |
|
Glass Other |
35,088 |
19,740 |
-44% |
|
Glass Remelt |
106,964 |
115,812 |
8% |
|
Paper |
534,239 |
706,429 |
32% |
|
Plastic |
259,969 |
315,660 |
21% |
|
Recovery |
53,498 |
88,195 |
65% |
|
Steel |
95,111 |
134,001 |
41% |
|
Wood |
91,525 |
116,951 |
28% |
|
TOTAL |
1,222,254 |
1,508,267 |
23% |
Source: T2E
You might also like...
PRN price hike 'causing hardship'
Rising packaging recovery note (PRN) prices have created alarm across the industry, with an emergency meeting of the Advisory Committee on Packaging (ACP) on the cards and industry calls for a safety valve for the system.
PRN data fears over plastic and aluminium
Environment Agency data on packaging recovery notes (PRNs) for the second quarter of 2019 showed cause for concern over plastics and aluminium, industry experts have said.
Wood recyclers warn Defra not to decrease packaging targets
The Wood Recyclers Association (WRA) has urged Defra not to decrease wood packaging waste recycling targets and has backed the continuation of the existing packaging recovery note (PRN) system.
Coffey urged to meet with industry over PRN crisis
A ’looming’ packaging recovery note (PRN) crisis for plastic and aluminium has been forewarned by the Packaging Scheme Forum (PSF) in a letter urging Defra to meet with it and take action.
Have your say
You must sign in to make a comment
Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.