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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.

 

 13th October 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

470-585

n/c

470-585

596.28-742.18

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

n/c

305-400

n/c

305-400

386.95-507.47

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

n/c

895-990

n/c

895-990

1135.47-1256.00

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

n/c

680-765

n/c

680-765

862.71-970.54

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

n/c

1190-1300

n/c

1190-1300

1509.73-1649.29

 

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

 


European R-PET prices stable but players see feedstock weakness

European recycled polyethylene terephthalate (R-PET) prices remain stable in October, though several players have mentioned downward pressure on feedstock post-consumer bottle prices, in light of the need for margin improvement in the flake market.

Post-consumer bottles are the primary feedstock for the R-PET chain and prices have remained fairly stable for most of the year, at a high level, kept in place by slightly constrained supply.

R-PET flake and pellet prices have also held stable for most of the year; In the first half of the year because of cheap imports of virgin polyethylene terephthalate (PET) from Asia, then in the second half because of increased production capacity of virgin PET in Europe.

Virgin PET competes directly with R-PET in certain applications. European producers of R-PET flakes and pellets say that margins have been under pressure for most of the year and the situation is increasingly unsustainable, with recent weakness in European virgin PET prices.

In many cases, virgin PET is currently cheaper than R-PET, reducing demand for R-PET, other than from buyers with environmental or sustainability targets to meet.

Market players say there needs to be a rebalancing of R-PET prices, and several expect this could happen in November. Sources say post-consumer bottle prices need to decline, in order to open up margin room for flake and pellet producers.

 

 

Virgin PET

A fast delivery of domestic virgin PET continued to command a premium, last week, but customers were holding back where possible, and remain convinced that even lower prices are due. Indeed, in several cases last week, buyers were achieving below €1,050/tonne.

The mood in the European market remained relatively unchanged through much of the week, with players talking rather than doing. Customers argued for the lowest possible price, talking bearishly about what lies ahead.

In several cases, producers from various regions were heard to be protecting their home markets and offering lower prices elsewhere. This was not confirmed by any producer. By the end of the week, weakness in Asia translated into more heated discussions on PET in Europe, and import offers that were not there previously began to emerge.

 

 

 

New PET plants

Name

Location

Nameplate Capacity tonnes/year

Start-up

EIPET

Ain Sukhna, Egypt

2 x 225,000

Second line delayed to Q4 due to market conditions.

JBF

Geel, Belgium

216,000

JBF's second 216,000 tonne/year line is in the commissioning phase. Full capacity is still on plan for the end of October.

Koksan

Gaziantep, Turkey

216,000

Plans to start up end 2015, pending negotiations with technology supplier Uhde Inventa-Fischer. Facilities are in place to run both Koksan lines. First line has been running at 85%.

PolyplexResins

Corlu, Turkey

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

Final license to use privately generated energy source is due 10-15 October, and the plant is expected to be operational by mid to end November.

 

 

 

 

 


 

 

 

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