US r-PET market continues to Soar, Virgin PET also makes a price jump
Early December assessments show a strong volatility in the Polyethylene terephthalate market where both recycled and virgin material were termed stronger from their November price discussions. Virgin PET have increased to USD 1845 per MT DDP while r-PET (recycled Polyethylene Terephthalate) clear flake prices have increased from USD 1740 to USD 1810 in the first week of December on FOB basis. Plastic resins market has been resurgent since the slump of 2020 where prices deteriorated substantially. In lieu of that, 2021 brought much needed impetus to the polymer market where demand recovered sharply, consequently improving margins for the manufacturers in a production-deficit market . Rising inclination towards circular economy and green development in the West has pushed for recycling. Consequently, r-PET prices have been bullish for a major part of the year consolidating on strong demand from downstream recyclate industrial yarn sector, which is the largest consumption sector for ...