Recycled PET pellet prices are continuing to rise in 2024.
Clear post-consumer PET pellet prices have increased by 4 cents per pound and green post-consumer pellets have increased 3 cents. These price changes are shown on this week's Plastics News resin pricing chart.
Prices are being impacted by seasonal demand.
"PET has been shooting up recently, [and I am] not sure how much this will be sustainable with the summer months coming as more supply becomes available," said a recycler in the Northeastern U.S.
During 2023, recycled PET saw a big dip in prices early in the year, then recovery in the second half of that year.
Sources say prices are peaking now and may fall in the third quarter.
"I think it's going to stay where it's at right now for at least the next couple months," said a manufacturer from the Midwest. "I could see a fall in the end of third quarter happening, but right now demand is high."