Asian recycled PET: Stable on week
amid thin trading,bearish outlook■ Buying appetite low in
export destinations■ Suppliers face increased
costsAsian recycled polyethylene terephthalate prices were
unchangedweek on week Nov. 16, with demand lagging due to low prices inrelated
markets.Export volumes have dropped across the region despite lowfreight rates
because converter operation rates in export destinationsdeclined with poor
demand and high energy costs."We are having a bit of trouble with exports
as sales volumes havedropped dramatically," said a recycler. Another
source said someEuropean sellers are having issues with cashflow as buying
weakens.Producer margins and converter appetite for recycled PET haveshrunk
following a protracted slump in virgin PET prices. The FOBSoutheast Asia
bottle-grade virgin PET closed at $935/mt Nov. 9, thelowest since $890/mt, Feb.
10, 2021.FD Northwest Europe R-PET flakes stable on...