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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.

 

 20th January 2014

Recycled PET (Europe)

Editor: Editorial Europe, editorial.europe@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

569.70-746.03

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

n/c

265-365

n/c

265-365

359.45-495.09

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

n/c

880-990

n/c

880-990

1193.65-1342.86

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

n/c

680-765

n/c

680-765

922.37-1037.66

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

n/c

1190-1300

n/c

1190-1300

1614.14-1763.35

 

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

 


European January R-PET prices roll over on good availability

Northwest European recycled polyethylene terephthalate (R-PET) prices have generally rolled over in January, reflecting average demand for the time of year and good availability. A couple of small increases of €10/tonne for flake material were also heard, but were not considered representative of wider market activity.

Availability of post consumer bottles as well as flake material is said to be good for the time being and demand is characterised as in line with expectations for the time of year.

A flake producer said that demand through January has been fairly stable, though in the last week it has been receiving a greater amount of enquiries as well as orders for prompt delivery.

A producer of food packaging said it received a rollover in January, but expects flake prices to rise in February, as it anticipates that recyclers will try to raise prices and recoup lost margin. It said demand in January has been mediocre so far, but expects this to grow following the winter lull. Furthermore, the producer noted that it expects significant imports of Asian R-PET material in February, shipped in advance of the Chinese New Year. It said it would be buying this competitively priced material instead of domestic European R-PET and expects other buyers to follow suit.

Most sources expect higher prices in February as supply of post-consumer bottles becomes more scarce, demand for flake material grows and recyclers seek margin improvement. Nevertheless, other factors are also likely to play a factor, including demand levels, weather and in particular virgin polyethylene terephthalate (PET) pricing.

European virgin PET prices fell significantly in the fourth quarter of 2013, dragging down R-PET prices in sympathy, as R-PET competes directly with virgin PET in certain applications. Virgin PET prices have stabilised somewhat in January, giving some respite to beleaguered recyclers, though margins are still said to be very thin.

 

 

Virgin PET

Momentum in European virgin PET got off to a slow start last week, with a number of players still in the process of returning after the holidays.

Sellers were intent on maintaining and even raising prices in January although most players expect that demand will not be strong. Most European buyers were not in a hurry to purchase spot product because they were still well-stocked. One European PET producer said it was seeking a €20/tonne rise on the back of higher raw material costs and the need to improve margins.

Most business was heard in the published range although a number of European sellers were keen to conclude most of their sales at the higher end of this range.

A spate of pre-buying among European consumers of Asian material meant that demand was quiet as the Asian imports began to arrive in Europe. In any case, consumers were mostly well-stocked for January and showed little interest in buying significant quantities until February.

 

PET production

PET Production

Name

Location

Nameplate Capacity tonnes/year

Remarks

Indorama Ventures

Workington, UK

155,000

In the process of mothballing. Production has stopped.

Mossi Ghisolfi Group (M&G)

Patrica, Italy

140,000

Maintenance shutdown for 10 days from the end of January. 80,000 tonne/year plant down all of 2013.

Neo Group

Klaipeda, Lithuania

160,000 x 2

Operating at 80-85% in January.

Novapet

Barbastro, Spain

130,000

Plant restarted 7 January after maintenance. Normal operating rates by 20 January.

Polisan Hellas

Volos, Greece

80,000

Now operational and full capacity is imminent, according to a source close to the company.

 

 

New PET plants

New PET plants

Name

Location

Nameplate Capacity tonnes/year

Start-up

EIPET

Ain Sukhna, Egypt

2 x 225,000

First commercial shipment due out on 20 January. One line is starting up in January. Second line to start up three to four weeks after first line start-up. 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 in February/March.

Polyplex Resins

Corlu, Turkey

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

Plant completed. Start-up delayed to the end of March, if not before. Awaiting government approval for privately generated energy source. A company source rejected talk that the plant is for sale and said Polyplex is a profitable company.

 

 

Covering editor: Iain Packham


 

 

 

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