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PRN trade up in March but fails to hit expected levels
The Packaging Recovery Note trading market picked up during March following a slow start to the year.
Angus Macpherson, managing director of trading organisation The Environment Exchange, said that activity, while not at expected levels, had been “on a par with performance in previous years” at 36,924 tonnes traded across all markets.
The number of plastics PRNs traded by The Environment Exchange increased to 2,822 tonnes in March after a “disastrous” February.
The price of glass and plastics PRNs increased, responding to strong demand in both spot and forwards markets, but strong supply caused paper prices to decrease.
Meanwhile, aluminium packaging firms have been given extra time to prove that non-EU reprocessing facilities are operating to EU standards, enabling them to meet PERN obligations.
The sector has suffered because of the erratic way metals are traded internationally, but Alupro, the aluminium packaging recycling organisation, is “optimistic” that the new 30 June deadline will help deal with the problem.
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