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Asian Recycled PET: Prices stable on surging freight /  SE Asia upstream bale feedstock cost heard higher ontight supply   /  FOB South Asia RPET flake prices stabilize onsoftening demand

Asian Recycled PET: Prices stable on surging freight / SE Asia upstream bale feedstock cost heard higher ontight supply / FOB South Asia RPET flake prices stabilize onsoftening demand

Jun 27, 2024

" "Southeast Asia purchases are still off, sea freight is toohigh and [ship] arrival times are uncertain," a European flakesbuyer said.According to market sources, SE Asia-Europe freight quoteswere heard as high as $7,000-$9,000/FEU this week, up from$3,500-$4,000/FEU in early May, and SE Asia-Middle East freightquotes were heard at $4,000-$5,500/FEU, up from $1,100/FEU inearly May.Meanwhile, demand within Asia -- especially East Asia's flakedemand for fiber and thermoforming applications -- furthersupported RPET prices, with trades heard for both flakes andpellets.While Southeast Asian recyclers largely retained their offersthis week, some sellers saw pressure on margins due to theweakening Indonesian rupiah as well as sustained high PET balefeedstock costs.PET bottle bale prices in Indonesia were heard higher at $600-$640/mt -- collection rates were heard to have dropped due tothe Eid Al-Adha holidays -- while...

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