The UK’s only online PRN trading facility – the Environment Exchange – may soon be faced with a rival.
Valpak has completed a reverse auction pilot that could set the scene for a move into online buying in the future.
During a controlled external exercise a number of reprocessors were invited to bid to sell PRNs to Valpak on an online trading floor developed by software support company Oracle.
Valpak director of operations Steve Gough said: “This is an exciting innovation for us. If we were to adopt such a system, it would allow Valpak access to a wider community of reprocessors for spot tonnage at best value for its members.”
“Valpak is, however, committed to its long-term contracts for the bulk of its PRN purchasing.
“This initial pilot has gone well and many possibilities now exist. We will now analyse the results before deciding our next move.”