Q1 2024 recycling data reveals good performance in most materials

The unverified Q1 2024 recycling figures released by the Environment Agency indicate good recycling performance in most materials, with only glass and aluminium of concern so far.
The table below shows the forecast recycling evidence requirements for 2024. It also shows the carry-in tonnage reported earlier in the year from 2023. Carry-in is the number of PRNs produced in December 2023 that are issued for 2024 use.
This gives us a net forecast obligation for 2024. We can next see the Q1 unverified data for 2024. Overall Q1 is the third-best quarterly performance in the last five years, it is strong performing across all materials except glass remelt and aluminium. It has therefore caused some correction in PRN pricing across many materials whilst availability has in the main been maintained.

What does this mean for producers?
The unverified Q1 2024 data has benefited from the ongoing strong performance of the recycling industry, which started in Q4 2022. Looking forward, the industry now needs to continue to perform well throughout the year to produce enough PRNs in 2024. The challenge may come from any uplift in obligation as the amount of packaging placed on the market by producers becomes clearer.
Aluminium - High risk

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