Tighter supplies and slightly higher feedstock costs combined to drive North American PET bottle resin prices up in July.
Regional prices for the material increased by an average of 1.5 cents per pound, according to market watchers contacted by Plastics News. Some buyers reported variations of different amounts between 1 and 2 cents.
The July increase is the second consecutive monthly hike for PET, which had ticked up 0.5 cents per pound in June. That June hike ended a streak of three straight monthly declines totaling 3.5 cents per pound for the material.
This week, Plastics News also is correcting prices for some recycled resins in North America, based on market activity so far in 2017. Average selling prices for recycled low and linear low density polyethylene pellets are being corrected upward by an average of 10 cents per pound.
For recycled polystyrene pellets and recycled PVC flake, average selling prices are being corrected downward by 10 cents per pound.
In a recent report from the PetroChem Wire consulting firm, recycled plastics analyst Xavier Cronin said that recent market activity included sales of high-impact PS scrap sheet from buildings in the upper Midwest. He added that demand was lower for curbside high density PE bales from U.S. reclaimers east of the Rockies.