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T2E reports record PRN trades

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 2018Average Traded PriceHigh PriceLowest PriceVolume 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

 

 

Material2017 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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