Average North American selling prices for PET bottle resin rose in January, while prices for several recycled resins in the region have increased in recent months as well.
PET bottle resin prices advanced an average of 3 cents per pound in January, as supplies remained a bit tight in the wake of M&G Polymers' bankruptcy-related shutdown of its 800 million-pound capacity plant in Apple Grove, W. Va.
That plant now has been purchased by Asian PET maker Far East New Century Corp. of Taiwan and is expected to restart, which would improve supplies for the regional market. PET prices now have increased for eight straight months, with most customers seeing 11 cents in increases since September.
In recycled resin markets, prices for several materials have increased since October as a result of increased use of the materials to meet sustainability requirements, according to market sources contacted by Plastics News.
Prices for clear recycled PET pellets and flake are up an average of 4 cents per pound in that period. Average prices for all grades of recycled polystyrene also are up 4 cents per pound.
Prices for all grades of recycled high, low and linear low density polyethylene have ticked up 5 cents per pound as well. The PetroChem Wire consulting firm said that some buyers of recycled HDPE recently agreed to meet higher offers to meet urgent spot needs.
This week, PN also is showing downward non-market price corrections on virgin grades of PE and solid PS. The PE non-market correction is a decrease of 20 cents. The solid PS non-market correction is a drop of 15 cents.
In addition, PN this week is showing upward non-market adjustments of 30 cents per pound on recycled ABS pellets and 10 cents per pound on ABS flake.
These corrections are designed to reflect more accurate selling prices for the North American market and — for PE and PS — to incorporate price rebates seen by buyers in recent years. The changes do not reflect any recent pricing activity.
The PN resin pricing chart is intended to show general market activity and is not designed to be used as a single-source index for price-setting.