Asian Recycled PET: Stable in the midst of thin trading
and bearish outlook- Low
buying appetite in export destinations- Higher costs
for suppliersRecyclers in Asia reported that the prices
of recycled polyethylene terephthalate in Asia were unchanged from week Nov. 16
but that demand is slowing due to lower prices in related markets. Another source claimed
that some European vendors are experiencing cashflow problems as their
buying power decreases. Producer margins have shrunk and the converter
appetite for recycled PET has slowed down due to a prolonged slump in
virgin PET prices. FOB Southeast Asia
bottle-grade PET closed at $935/mt November 9, the lowest price since $890/mt
Feb. 10, 2021. R-PET clear flakes FOB Los Angeles were unchanged week-on-week
at 48 cents/lb November 15. Both Thai and Indonesian recyclers are experiencing
cost pressures because of high operating...