North American recycled high density polyethylene resin prices continued to increase in the second quarter of 2024.
On average, recycled HDPE prices have increased by 2 cents, according to market sources in discussion with Plastics News.
Prices for natural post-consumer pellets increased by 2 cents, mixed colored post-industrial pellets increased by 2 cents and mixed colored post-consumer pellets increased by 3 cents.
These pricing changes are being shown on this week's PN resin pricing chart.
"We knew that prices were going to increase in 2024. It's happening, but slowly. This is the third increase we've seen this year and I think it could go up a couple more cents," a resin distributor in the South said.
In 2023, recycled HDPE buyers saw a price decrease due to a surplus of material. The market is now recovering from that surplus.
Consultants have been predicting an increase in prices for 2024 to make up for the big declines the year prior.
"We are cycling through trends right now and this year is all about recovery and cleaning out supply," said a consultant from Virginia. "The market is in a better spot than it was mid-last year."