Asian Recycled PET - Prices stable despite bearishness- Market
pessimism fuelled by lower crude oil and virgin PET prices- The
downstream inventories are still fullAlthough Asian recycled polyethylene
Terephthalate prices were steady week-on-week despite thin trading indicators,
fundamentals remained soft due to waning prices in related markets. Due to falling crude and
virgin PET price, industry fundamentals have been slowing. China is experiencing a number of demand destruction issues,
including COVID-related restrictions and poor economic data. This has led to
doubts about regional recovery. One
recycler stated that R-PET is used primarily by regional customers and not for
sustainability. This is why the industry is struggling with falling virgin
prices. He also suggested that importers from countries with minimal recycled
content mandates may be more willing to pay financial penalties than complying
with minimum recycled...