PRNs remained the main story in the recycling market last week and how they might impact on the price of the physical market.
Plastic PRNs lost close to around £35 per tonne as a result of various reasons including market nerves and one large company putting more PRNs onto the market.
SCM Environmental director Joe Savage said: “What we didn’t see coming with plastic PRNs was a sudden drop in value, seemingly overnight to the tune of £25.00 or so.
“A perceived large influx of PRNs and increased desire from sellers to clear stocks has caused the price to crash, currently at circa £50.00 but with a view to heading further south. “Naturally this has been welcomed by buyers who can start fulfilling compliance obligations at a point nearer budget, thus bringing final requirements to the table.
“Current sentiment is that the price will drop further, and possibly we’ll see a sub-£30.00 plastic PRN before year-end, if this does indeed happen then it should be good news all round as compliance should be met and buyers will be paying more acceptable fees to achieve this.”
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In terms of prices, the fall in the PRN value did not affect bottle prices but it did ease other packaging grades such as film down by £10 per tonne.
Paper prices were largely stable, but multi continued to fall back.
Metals continued to suffer with £125 coming off copper grades, £100 off brass and £25 off aluminium.
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