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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 March 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

430-550

n/c

420-550

598.99-766.15

PET BOTTLES – MIXED COLOURED (POST-CONSUMER)

FD NWE

EUR/TONNE

n/c

265-365

n/c

265-365

369.14-508.44

RPET FLAKE (HOT WASHED) - COLOURLESS

FD NWE

EUR/TONNE

n/c

895-990

n/c

880-990

1246.73-1379.06

RPET FLAKE (HOT WASHED) – MIXED COLOURED

FD NWE

EUR/TONNE

n/c

680-765

n/c

680-765

947.23-1065.64

RPET PELLETS – FOOD GRADE

FD NWE

EUR/TONNE

n/c

1190-1300

n/c

1190-1300

1657.66-1810.89

 

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 roll over in March

Prices of European post-consumer bottles, recycled polyethylene terephthalate (R-PET) flakes and pellets in March have rolled over from February as tight availability of feedstock post-consumer bottles offset reductions in upstream virgin polyethylene terephthalate (PET) pricing.

Virgin PET competes directly with R-PET material in some applications. Post consumer bottles are the primary feedstock for the R-PET chain.

A few sources attributed tight availability of R-PET flake in western Europe to improving demand and scarce availability of post-consumer bottles. A flake producer in northwest Europe said March prices have rolled over, but noted it has not seen any tightness and said that R-PET demand is weak, largely due to low virgin PET pricing. It said buyers are increasingly buying virgin PET rather than R-PET flake as it is cheaper and the situation appears to be getting worse.

Furthermore, it said that tight availability of post-consumer bottles is typical for the time of the year, as fewer soft drinks are consumed during winter and spring than in summer, but said this seasonal trend has not been apparent this year. It claimed some R-PET flake sellers are using tight availability as an excuse to resist price reductions.

A flake producer in northern Europe said that availability of post consumer bottles is good in the region, but tighter in western Europe. It said demand is satisfactory, but could be better considering the warm weather and time of year. Furthermore, it attributed flat post-consumer bottle and R-PET flake prices to tight availability of post-consumer bottles offsetting lower virgin PET prices.

A seller of post-consumer bottles in western Europe said demand is growing, particularly from bottle and packaging producers as the warm weather drives increased consumption. It noted that this increased offtake may result in higher prices going forward.

A flake producer in southern Europe also confirmed a rollover on March post-consumer bottle and R-PET flake prices. It noted that at the current virgin PET price level, its R-PET is still competitively priced, but any further reductions in virgin PET would result in margin pressure.

A sheet producer in southern Europe said it has not yet settled its prices for March but is expecting a decrease due to the lower virgin PET price. Nevertheless, it also noted that the price it paid in February may be slightly high and is anticipating a €30/tonne reduction for colourless flake in March.

The sheet producer also noted some tightness in western Europe, but said that it sources material widely so has been less impacted.

Virgin PET

European virgin PET producers are fighting to maintain the margin gained in February, following a delayed and larger than expected upstream paraxylene (PX) price drop in February and a possible fall in March feedstock costs. However, the balanced domestic supply of PET has so far helped European producers stave off some of the anticipated price falls.

Customers acknowledge that while there is plenty of PET available from a variety of sources, local producers are not flush with stocks. Poor profitability and a hand-to-mouth purchasing attitude has led to this.

 

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. Second line is expected up by the end of the first half of 2014 - delayed due to market conditions. Original startup was scheduled for March/April 2013.

JBF

Geel, Belgium

432,000

Commissioning has begun. Product will be ready for testing and sampling in the second half of May. Expected to be in the market by June.

Koksan

Gaziantep, Turkey

216,000

Plant started in November 2013. Commercial material delivered to customers and used captively for preform production.

Koksan

Gaziantep, Turkey

216,000

Plan to start up end 2015, pending negotiations with technology supplier, Uhde Inventa Fischer. Facilities are in place to run both Koksan lines.

Lotte Chemical UK (LC1)

Teesside, UK

200,000

In commissioning stage.

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.

 

GPCA PlastiCon 2014
07-09 April 2014, Expo Centre Sharjah, UAE. To find out more visit
www.gpcaplastics.com


 

 

 

 

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