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Copyright © 2013 Reed Business Information Limited

Copyright © 2013 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.

 

 14th October 2013

Recycled PET (Europe)

Editor: Mark Victory, mark.victory@icis.com

 

DOMESTIC AND EXPORT PRICES

Click for Price History

 

 

Price Range

 

Four weeks ago

USD/TONNES

PET BOTTLES – COLOURLESS (POST-CONSUMER)

FD NWE

EUR/TONNE

-45

480-580

-45

525-625

651.89-787.71

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

-50

300-400

-50

350-450

407.43-543.25

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

n/c

930-1025

-25

950-1060

1263.05-1392.07

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

-10

730-800

-20

780-870

991.42-1086.49

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

-10

1250-1300

-10

1260-1310

1697.64-1765.55

 

NOTE: For full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”.

 


Strong European post-consumer supply pulls down pricing

Prices have fallen throughout the European recycled polyethylene terephthalate (R-PET) chain because of ample supply and weak macro-economic conditions.

Seasonally lower demand post-summer, particularly in the bottle-to-bottle market, combined with continued strong availability of post-consumer PET bottles after summer, has put downward pressure on prices, particularly at the upper ends of the ranges.

Market players expect availability of post consumer PET bottles to tighten through the rest of October and into the first quarter of 2014 as is seasonally usual. What impact this will have on pricing remains unclear, though, due to the impact of ongoing global economic uncertainty, particularly over the U.S. debt crisis.

Flake prices at the upper end of the range have fallen because of lower post-consumer PET bottle prices. Flake prices, however, didn't fall to the same extent as post-consumer bottle prices due to reduced availability of high-grade material with low levels of contaminants.

A northwest Europe (NWE) flake producer noted that demand from eastern Europe is strong, particularly from the strapping sector. It said demand from the sheet market is also rising, due to a number of new sheet producers that have switched feedstock from virgin PET to cheaper recycled material.

Demand in southern Europe is stable to weak, reflecting macroeconomic conditions, and demand is forecast to remain broadly flat in November, a source said. A flake producer said demand for clear material is stable while demand for coloured material is weakening. It noted this weakness is highlighted by falling demand from two of the region's key markets, strapping and fibre for auto.

Demand in NWE is weak, reflecting a seasonal slowdown that is being worsened by macroeconomic uncertainty, weakness and general hesitation in the market, a food grade pellet producer said. It noted that food grade material is facing further downward pricing pressure because of cheap virgin PET imports from southeast Asia and the Middle East, reflecting a stronger euro versus the US dollar. Virgin PET is a direct competitor to R-PET in some downstream markets such as fibre and packaging.

Upstream, the value of European virgin PET remains a concern for producers, as prices decrease before feedstocks settle. The combination of the peak bottling season ending, downward pressure on feedstocks and a barrage of cheap imports on offer, has pushed customers to the sidelines.

 

 

($1 = €0.74)

Covering editor: Iain Packham


 

 

 

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