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European Recycled Pet Prices Shift on Chinese Withdraw
Author:admin  Source:Site  Released time:2011/6/11 9:37:55  Click:2371

LONDON, April 26/PRNewswire/ -- ICIS pricing, the global information provider to the chemical and oil industries, launched a weekly pricing report for the European Recycled Polyethylene Terephthalate (RPET) market last year in the midst of high crude and virgin PET prices. Since last autumn, prices have softened, chiefly due to a partial withdrawal of Chinese buyers from the European market.

Following the launch of the ICIS pricing RPET report last autumn, the market has changed. With fewer post-consumer bottles, either baled or shredded, leaving the local arena the balance of supply and demand shifted in favour of local buyers. The fibre market, which uses recycled PET for end user applications such as fleeces and toys, has experienced a decline in prices of cotton; coupled with the EU trade quotas of textiles, this resulted in lower demand by Chinese buyers for recycled material from Europe.

Editor, Peter Gerrard commented, "Prices of Recycled PET, as in the virgin PET market, are subject to the seasonal variations reflecting consumption of cold beverages and as a result, prices in the winter should be high and supply low. This was not he case last winter because of the decline in Chinese interest. Converters also amassed larger stocks to see them through the winter in order to avoid the usual problem of availability in that season", he added.

More recently, there have been signs that values of both bottles and the flakes into which they are processed have begun to firm up again. However, the approach of warmer weather heralds greater consumption of cold beverages, which always stimulates the supply of recyclers' raw material, and this should again begin to exert downward pressure on prices throughout the sector unless there are any significant deviations from the normal seasonal pattern.

Peter also said "The background to the European recycled PET market is still strong, with national collection rates increasing and the market is expanding in new processing and end-user applications."

ICIS pricing reports on weekly price assessments of the recycled PET market with details for bottle, flake and food grade. The report also contains concise market intelligence and commentary on the demand and supply situation, EU legislation, export demand from the Far East, production news, state of the virgin PET market and trends and developments in the recycling industry.

Recycled PET has a wide range of applications including fibre for polyester carpet; fabric for T-shirts, shoes, luggage, upholstery and sweaters; fibre fill; industrial strapping, sheet and film; automotive parts, such as luggage racks, headliners, fuse boxes, bumpers, grilles and door panels; as well as new PET containers for both food and non-food.

ICIS pricing covers over 150 commodities globally, included in the portfolio. ICIS reports on all major virgin polymer and other emerging recyclable materials such as recycled polyethylene and polypropylene.

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