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
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