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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.

 

 24th 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

+10

430-550

n/c

420-550

590.03-754.69

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

n/c

265-365

n/c

265-365

363.62-500.84

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

+15

895-990

n/c

880-990

1228.09-1358.44

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

n/c

680-765

n/c

680-765

933.07-1049.71

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

n/c

1190-1300

n/c

1190-1300

1632.88-1783.82

 

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

 


European colourless flake prices edge higher on tightness

European recycled polyethylene terephthalate (R-PET) prices have remained broadly stable in February, in light of good availability, seasonally weak demand and price competition from weakening virgin polyethylene terephthalate (PET) prices.

Nevertheless, sources have indicated that tightness in the availability of colourless post consumer bottles in northwest Europe has edged colourless post-consumer bottle and colourless flake prices higher by about €10/tonne and €15/tonne respectively, on the low end.

A flake producer said that good demand and tight supply of higher quality colourless post-consumer bottles has pushed up prices and this has been passed on to colourless flake material. It noted that winter seasonality played a small part in the tight availability of the post-consumer bottles.

Furthermore, it said that there appears to be stronger demand for better quality, segregated post-consumer bottles. It said that availability of mixed colour post-consumer bottles, or post-consumer bottles with higher quantities of contaminants, is reasonably strong at the moment and price movement is limited.

A producer of plastic films confirmed tight availability of colourless post-consumer bottles in northwest Europe and higher prices, noting that suppliers it is in contact with are struggling to obtain any extra volumes.

A food grade pellet producer in northwest Europe also confirmed the higher colourless flake prices.

Looking ahead to March, price ideas are mixed. Weakness in virgin PET feedstock paraxylene (PX) is driving some R-PET players to expect lower virgin PET prices in March and therefore lower R-PET prices. Nevertheless, post-consumer bottle producers are eager to seek higher prices in light of thin margins. Virgin PET competes against R-PET in certain applications.

A flake producer said it would not expect post-consumer bottle prices to rise in March though it would expect recyclers to try and push for increases.

A sheet producer, however, said it doesn't expect a fall in PX to be that significant and as such anticipates higher virgin PET pricing in March, offering R-PET producers the chance for some margin recovery.

 

Virgin PET

Virgin PET prices have softened compared with earlier in February and in January, but any significant effect of the big drop in upstream PX remains elusive. With margins having been so tight, this is providing a bit of breathing space for European producers.

Customers have been relatively comfortable stock-wise, there having been plenty of imports as well as domestic availability. However, output of PET in Europe is for the most part reduced due to maintenance and poor profitability, and the heralding of spring and warmer weather could bring with it an uptick in demand for PET bottles.

This situation is helping to balance out the market, particularly as new plants with product destined for Europe are only just beginning to surface.

 

 

New virgin 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.

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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