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Copyright © 2014 Reed Business Information Limited

Copyright © 2014 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.

 

 17th February 2014

Recycled PET (Europe)

Editor: Iain Packham, iain.packham@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

n/c

420-550

n/c

420-550

575.54-753.68

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

n/c

265-365

n/c

265-365

363.14-500.17

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

n/c

880-990

n/c

880-990

1205.88-1356.62

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

n/c

680-765

n/c

680-765

931.82-1048.30

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

n/c

1190-1300

n/c

1190-1300

1630.68-1781.42

 

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

 


NWE R-PET Feb prices rollover on flat demand

Prices of recycled polyethylene terephthalate (R-PET) in northwest Europe have generally rolled over from January to February, reflecting stable demand, good availability and weakness in virgin polyethylene terephthalate (PET) prices.

Sources said that most post-consumer bottle collectors had sought to raise the price of bales of post-consumer bottles in February, to regain lost margin in previous months, but generally settled at rollovers in the face of flat demand, good availability of feedstock and falling virgin PET prices.

Traditionally, R-PET prices rise around this time of year due to seasonally low availability of post-consumer PET bottles, the primary feedstock for the R-PET chain, as well as due to improving demand ahead of Easter, sources said.

This year, however, market players appear to be better prepared and well-stocked while the recent mild winter weather also seems to have led to a greater availability of post-consumer bottles.

Although many market players said that either they or their suppliers sought higher prices in February, in search of margin improvement, the vast majority settled at rollovers, because of further weakening virgin PET prices and in light of stable demand and good availability.

A flake and food-grade pellet producer said it was able to increase its prices by €20/tonne on the back of higher bale prices, but this was not considered representative of the broader market.

Furthermore, the flake and food-grade pellet producer warned that It will be difficult to raise R-PET prices in March because of weakness in virgin PET prices.

Virgin PET competes directly with R-PET in certain applications and prices have fallen significantly since September 2013, in light of cheap imports from Asia and strong European competition. R-PET prices have broadly tracked this decline.

Other R-PET players in northwest Europe, however, said they were unable to increase prices in February, noting that prices have remained flat since December, citing stable demand as well as weakness in virgin PET pricing.

A clear flake buyer noted that prices have been unchanged since December, a sentiment reiterated by a flake and bottle buyer and bemoaned by both.

As a result of the softness in virgin PET pricing, the flake and bottle buyer said it expects prices to remain flat at least for the next 2 months.

 

 

 

Virgin PET

The full force of the €92/tonne drop in the initial February paraxylene (PX) price, was yet to impact the European virgin PET price at the end of last week, but it has contributed to a bearish outlook for March.

Actual deals were infrequent last week, with much of February business already concluded, so the published domestic spot price range decreased in line with commentary and market sentiment related to domestic virgin PET.

 

 

New PET Plants

 

Name

Location

Nameplate Capacity tonnes/year

Start-up

EIPET

Ain Sukhna, Egypt

2 x 225,000

First line started up fully end January. Shipments out first week of February. Second line start-up unlikely to be in the first quarter due to market conditions. Original start-up March/April 2013.

JBF

Geel, Belgium

432,000

Commissioning March/April 2014. Prime material ready by June/July 2014.

Koksan

Gaziantep, Turkey

216,000

Plant started up weekend of 2 November. Commercial material delivered to customers and used captively for preform production. A minimum of 90% operating rate is expected in 2014.

Koksan

Gaziantep, Turkey

216,000

Building not started, although facilities are in place to run both Koksan lines. Update due Q1 2014.

Lotte Chemical UK (LC1)

Teesside, UK

200,000

In final stages of construction. Operational at the end of the first quarter.

Polyplex Resins

Corlu, Turkey

210,000 at least for the first year of production, but scalable up to 300,000

Expects to receive licensing by April 2014 as the company awaits government approval for an energy source. Quality control certification for trial product has been granted by global assessment body SGS. Original start-up was scheduled for the summer of 2013.

 

 


 

 

 

 

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