- Price stability expected in foreseeable future- Recycled to virgin switch continues



The European polyethylene terephthalate
spot market continued to remain flat in the week to May 3. Poor weather within Europe has contributed largely to the
continued lower-than-expected demand in the spot
market. Due to
cooler temperatures, appetite among
end-consumers is reduced for bottle products. "Weather is still poor in Europe, leading to poor demand," a trader said. Recycled PET consumers were heard to continue to substitute
virgin PET material, as the
cost differential between virgin and recycled PET remains high enough to encourage the uptake of virgin material. "People are using virgin more and more," a recycler said. "Using recycled material is not a big topic at the moment," the recycler added. "Consumers will use the cheaper solution at the moment,
which is virgin," a second recycler
said. "There is still a lot of
substitution,"...