Latest packaging data shows continued volatility in PRN market

Chris Taylor, PRN Trader for Clarity, comments on the latest packaging figures: "It's clear that 2012 was a volatile year for the PRN industry and so far it looks as though 2013 is picking up where we left off. The talking points, yet again, are glass, plastic and steel.

"UK glass re-melt is reporting its lowest quarterly numbers for three years and the combined glass total is substantially less than this time last year. We expect suppliers to continue to command high prices for their evidence moving forward, and buyers will hope that the national obligation has come down substantially to help ease prices.

"Plastic on the other hand looks stronger than expected, given the panic in the PRN market. But the Chinese “Green Fence” situation has not been in effect for too long, so we are unlikely to know how badly the plastic export market has been hit until the Q2 data is released in three months time. The growing targets for plastic in 2013 have put pressure on the plastic recycling industry and this data means it’s fairly touch and go.

"It remains to be seen how dramatic the situation really is as the Producer obligation will not be released until mid May. The buyers we have spoken to are suggesting that on the whole their glass obligations have come down compared to last year, but we would have to witness a very large drop for glass to look comfortable on the available evidence.

"Right now it’s a waiting game –a strong theme in this industry at the moment."

You can read more on this story in Clarity's April edition of clearview out next week.

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