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Resin Pricing
June 01, 2022 05:14 AM

Recycled PET buyers switch to virgin PET as price gap widens in Europe

Supply bottlenecks and strong demand support recyclers’ price push

David Platt
Sustainable Plastics
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    Recycled-bottle.jpg

    Recycled polymer prices continued to rise in Europe in April, but to a much smaller extent compared with the previous month. Recycled PET clear flake and food grade showed the highest increase with prices rising by €100 per metric ton.

    Recycled low density polyethylene natural film prices have risen by €90/tonne. Most other classes and types saw gains of between €30-50/tonne. The sharply rising cost of primary material supported recyclers’ push for higher prices.

    Higher virgin polymer prices and shortening availability also led to more converters seeking alternative supplies in the form of recycled material. Recycled plastics demand was particularly robust across the consumer goods sector driven by brand owners’ sustainability programs.

    There was sufficient material across most recycled plastics classes and types in April to fully meet demand from regular customers, although it was harder to find additional volumes required to serve new customers. High-quality material was, however, in shorter supply.

    In May, higher production scrap costs and higher energy prices led  to further recycled plastic price increases across the board. Supply is mostly reasonably balanced for recycled LDPE, recycled high density PE and recycled polypropylene. Recycled PET bottle scarp remains short, although there are reports of an increase in imports from the Middle East and Africa. Recyclers are at least able to serve their regular customers properly, although additional volumes remain a challenge.

    For recycled HDPE, slightly declining scrap material volumes and the continuing poor availability of additives are limiting the output of tube grades. Demand could thus noticeably exceed supply in this market sector.

    Subscribe to Plastics News to get more on North American and European resin prices

    Post-consumer recycled polymer prices, Western Europe, (€/tonne)

    Type

    February 2022

    March

    2022

     

    April 2022

    Recycled polyethylene terephthalate (R-PET)

     

     

     

    Coloured flakes

    855-905

    890-950

    940-1000

    Clear flakes

    1620-1680

    1770-1870

    1870-1970

    Clear food grade pellets

    1990-2090

    2140-2240

    2240-2340

    Recycled high-density polyethylene (R-HDPE)

     

     

     

    Coloured pellets for blow moulding

    990-1090

    1040-1140

    1090-1190

    Black pellets for injection moulding

    1045-1145

    1095-1195

    1125-1225

    Recycled low-density polyethylene (R-LDPE)

     

     

     

    Natural film

    1400-1530

    1500-1625

    1590-1740

    Translucent film pellets

    1220-1320

    1320-1420

    1370-1470

    Black extrusion pellets

    630-710

    690-760

    720-790

    Recycled polypropylene (R-PP)

     

     

     

    Black homopolymer pellets

    1155-1175

    1310-1410

    1335-1435

    Black copolymer pellets

    1250-1310

    1450-1550

    1500-1600

    Recycled high-impact polystyrene (R-HIPS)

     

     

     

    Black pellets

    1090-1190

    1190-1290

    1240-1340

    Recycled PET
    In April, clear food-grade pellets and clear flake grades saw massive price hikes of over €100/tonne with colored flake prices rising by €50/tonne. Rising virgin PET prices and bottle scrap costs supported recyclers' calls for higher R-PET prices.

    PET bottle scrap, particularly for high-quality grades, was in short supply with bottlenecks and delays in logistics also adding to transportation costs.

    More recycled PET plastics buyers have been switching to virgin PET bottle grade material due to soaring recycled PET prices. The gap between the two products has widened to a great extent, although prices for both virgin PET bottle and recycled PET flakes posted 3-digit hikes in April. Many converters were no longer able to increase recycled content in their packaging considering the huge gap between recycled and virgin PET prices.

    Recycled low density polyethylene
    In April, recyclers were able to raise recycled LDPE prices without much discussion aided partially by the sharp increase in virgin LDPE prices. Natural film grades posted a price rise of €90/tonne with other grades rising by €30-50/tonne.

    There was sufficient availability of recycled LDPE to meet demand although high-quality grades were in shorter supply and were more expensive.

    Recycled LDPE demand was supported by converters switching from primary material to recyclate due to the sharply rising cost of primary LDPE.

    Recycled high-density polyethylene
    In April, recycled HDPE prices increased by €50/tonne with recyclers able to push through gains without much resistance due to material shortages and sharply rising prices for primary material.

    There was sufficient material available to serve regular customers although high-quality grades were in shorter supply and more expensive.

    Recycled HDPE demand for consumer goods and construction applications was robust, while sales of black injection moulding material to the automotive sector slowed compared to the previous month.

    Recycled polypropylene 
    Recycled PP prices increases slowed considerably compared to the previous month with gains of €25/tonne for homopolymer pellets and €50/tonne for copolymer pellets. Sufficient production scrap was available to serve the needs of regular customers. R-PP demand was supported by the sharply rising cost of primary material and by automotive producers topping up inventories.

    Recycled high-impact polystyrene 
    In April, recycled HIPS prices increased by €50/tonne aided by the sharply rising cost of primary material. R-HIPS sales increased as buyers of standard polystyrene switched, where possible, to R-HIPS, as primary HIPS has become very expensive and is in short supply. There was sufficient material available to serve regular customers but orders from new customers were often subject to allocation.

     

    Most recent resin prices
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    Most resin buyers saw higher prices through the spring
    Polypropylene pricing on the move, more volatility likely
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