EU Recycling

Polyestertime
ITEM	26/05/2025	02/06/2025	+/-
Bottle grade PET chips domestic market	6,030 yuan/ton	5,990 yuan/ton	-40
Bottle grade PET chips export market	785 $/ton	785 $/ton	–
LDPE CFR Est China	1,050 $/ton	1,045 $/ton	-5
PET Semidull Fiber chips PET Bright	5,950 yuan/ton 5,960 yuan/ton	5,890 yuan/ton 5,900 yuan/ton	-60 -60
Pure Terephthalic Acid PTA domestic market EU Recycling	4,920 yuan/ton	4,970 yuan/ton	+50
Pure Terephthalic Acid PTA FOB China	620 $/ton	620 $/ton	–
Monoethyleneglycol MEG South China	4,560 yuan/ton	4,508 yuan/ton	-52
Monoethyleneglycol MEG CFR China	528 $/ton	528 $/to	–
Paraxylene PX FOB  Taiwan market	814 $/ton	840 $/ton	+26
Paraxylene PX FOB  South-Korea market	804 $/ton	830 $/ton	+26
Paraxylene PX FOB EU market	813 $/ton	840 $/ton	+27
Polyester filament POY 150D/48F domestic market	7,050  yuan/ton	7,000 yuan/ton	-50
Recycled Polyester filament POY  domestic market	6,425 yuan/ton	6,425 yuan/ton	–
Polyester filament DTY 150D/48 F domestic market	8,200 yuan/ton	8,200 yuan/ton	–
Polyester filament FDY 68D24F	8,100 yuan/ton	8,100 yuan	–
Polyester filament FDY 150D/96F domestic market EU Recycling	7,300 yuan/ton	7,300 yuan/ton	–
Polyester staple fiber 1.4D 38mm domestic market	6,640 yuan/ton	6,600 yuan/ton	-40
Caprolactam CPL domestic market	9,175 yuan/ton	8,900 yuan/ton	-275
Caprolactam CPL  CFR China	1,100 $/ton	1,100 $/ton	–
Nylon 6 chips overseas  market	North America: $2.93/kg Europe: $2.36/kg Northeast Asia: $1.74/kg Southeast Asia: $1.81/kg Middle East: $1.88/kg	North America: $2.90/kg Europe: $2.47/kg Northeast Asia: $1.59/kg Southeast Asia: $1.81/kg Middle East: $1.80/kg	–
Nylon 6 chips conventional spinning domestic  market	10,050 yuan/ton	9,650 yuan/ton	-400
Nylon 6 chips  high speed spinning domestic  market	10,300 yuan/ton	10,200 yuan/ton	-100
Nylon 6.6 chips domestic  market	16,000 yuan/ton	16,000 yuan/ton	–
Nylon6 Filament POY 86D/24F domestic  market	12,300 yuan/ton	12,250 yuan/ton	-50
Nylon6 Filament DTY 70D/24F domestic  market	14,700 yuan/ton	14,650 yuan/ton	-50
Nylon6 Filament FDY  70D/24F	13,100 yuan/ton	13,100 yuan/ton	–
-Spandex 20D  domestic  marke	27,200 yuan/ton	27,200 yuan/ton	–
Spandex 30D  domestic  market	26,700 yuan/ton	26,700 yuan/ton	–
Spandex 40D  domestic  market	23,500 yuan/ton	23,500 yuan/ton	–
Adipic Acid China domestic market	7,400 yuan/ton	7,400 yuan/ton	–
Benzene domestic market East China	6,100 yuan/ton	5,850 yuan/ton	-250
Benzene CFR  China	684 $/ton	717 $/ton	+33
Ethylene South East market	780 $/ton	780 $/ton	–
Ethylene NWE market CIF	746 $/ton	731 $/ton	-15
Acrylonitrile ACN  domestic market	8,550 yuan/ton	8,400 yuan/ton	-150
Acrylonitrile ACN Acrylonitrile Southeast Asia	1,180 $/ton	1,180 $/ton	–
Acrylic staple fiber ASF CFR China	14,700 yuan/ton	14,700 yuan/ton	–
VSF viscose staple fiber	13,000 yuan/ton	13,000 yuan/ton	–
PP Powder domestic market	7,045 yuan/ton	6,940 yuan/ton	-105
Naphtha overseas market	546 $/ton	545 $/ton	–
Phenol domestic market Jinan Dezheng Chemical Co., LtdYanshan Petrochemical Shandong Province	6,736 yuan/ton	6,738 yuan/ton	+2

recycled PET  =                    4,450 yuan/ton  —         4,400  yuan/ton         -50

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EU Recycling

? EU Recycling Sector Faces Mounting Bankruptcies Amid Financial Strain

Despite temporary relief from global trade tensions and U.S. tariff policies, the European recycling industry remains in turmoil. A growing wave of bankruptcies is sweeping across the sector, driven not by lack of demand or efficiency, but by harsh financial constraints and mounting uncertainty.

? Bankruptcy Trends Signal Deep Trouble

According to an April press release from Dutch firm Troostwijk Auctions, bankruptcy auctions in the European plastic recycling sector increased by an alarming 150% year-on-year. This spike began well before the U.S.–China trade conflict and is now further aggravated by economic instability across the continent. EU Recycling

On the other side of the Atlantic, the U.S. recycling industry is battling its own crises. The bankruptcy of Brightmark and the cancellation of International Recycling Group’s Pennsylvania project underline the fragility of even high-profile ventures. Policy uncertainty — particularly around the regulation of chemical recycling — further complicates recovery efforts.

? Financing: The Real Bottleneck

While market conditions and regulatory frameworks play a role, the dominant factor behind these closures is financial hardship. As Mark Victory, senior recycling editor at ICIS, put it: “The EU bankruptcies have not really been linked to operational efficiencies or demand or prices, it’s been financing.” EU Recycling

This sentiment was echoed by Matt Tudball, another senior editor at ICIS, who highlighted that although the EU often leads in environmental mandates, this does not translate to economic resilience. High energy costs and the ongoing cost-of-living crisis continue to erode profitability and investor confidence.

? Delays Today, Roadblocks Tomorrow

“You can’t erect a plant overnight,” said Tudball, underscoring how today’s delays ripple into tomorrow’s project timelines. “Any delays now delay your second plant, your third plant, etc. So actually, those ambitious targets for 2030 start to look more and more unachievable the longer that investment is delayed.”

One stark example is Eastman’s PET depolymerization plant in France. Announced in 2022 with a proposed 2025 launch, the project is currently on pause. CEO Mark Costa explained in late 2024 that progress was slow due to challenges in securing offtake agreements — key contracts with future buyers of recycled materials. Despite no public withdrawal of interest from partners, Costa omitted mention of the French facility in multiple investor calls this year. EU Recycling

? U.S. Green Funding Cuts Add Pressure

The financial squeeze isn’t confined to Europe. In the U.S., Eastman’s plans for a new methanolysis plant in Longview, Texas, took a hit when a promised $375 million grant was canceled. This was part of a broader $3 billion cutback on green initiatives by the Department of Energy. Eastman, which had previously committed to breaking ground on the plant in Q4 2025, has now delayed $200 million in related spending.

Though the company maintains that it expects mechanical completion of the project by 2028, the cutbacks raise serious questions about long-term viability and investor appetite. With U.S. and EU economies tightening their belts, green infrastructure may become a casualty of shifting priorities.

? Chemical Recycling Faces Investment Drought

“The real challenge at the moment for pyrolysis oil, it’s not the demand, and it’s not the technology so much. It’s the investment side of things,” Tudball emphasized. Pyrolysis oil, a key product of chemical recycling, has been particularly volatile. Its price spiked twice in the past 18 months — in both Europe and the U.S. — due to supply shortfalls from stalled or canceled recycling plants. EU Recycling

Offtake agreements can provide some reassurance to investors by demonstrating a project’s market demand. However, these agreements shift much of the risk to the processor. When these projects collapse, they not only disrupt pricing but also create scramble situations where buyers must source contracted volumes from alternative suppliers, often at inflated costs.

⚖️ Regulatory Uncertainty Hurts Investment

Another obstacle is the unclear and shifting regulatory environment. Greg DeKunder, vice president of Circular Solutions at Nova Chemicals, summed it up: “That uncertainty is a killer for projects.” When asked why Nova halted plans for a chemical recycling plant, DeKunder cited the inability to confidently predict regulatory stability over the lifespan of such an investment. EU Recycling

This uncertainty spans not only national but also regional and local jurisdictions. Each area’s interpretation of regulations — especially for newer technologies like chemical recycling — differs significantly. This patchwork of rules further discourages capital-intensive commitments.

?️ Delayed Infrastructure, Missed Targets

The financial freeze doesn’t just impact new plants — it also affects sorting infrastructure, which is critical to meet the EU’s Packaging and Packaging Waste Regulation (PPWR) targets. “We might not see that investment in sorting infrastructure that is so necessary,” said Victory, referring to the urgent need for systemic upgrades to meet environmental goals.

Smaller companies — particularly those not backed by major chemical giants — are hit the hardest. EU Recycling

Without deep pockets or diversified portfolios, they often can’t withstand the long development cycles and uncertain returns that characterize chemical recycling projects.

? A Path Forward — But with Caution

There’s cautious optimism among industry leaders. Speaking in March, Nova’s DeKunder pointed out that many announced projects are not canceled but simply paused. “They’re waiting on more market certainty or clarity on external factors.” These factors range from government funding and consumer behavior to geopolitical events and energy prices.

But until that clarity arrives, it’s likely that the recycling sector — especially in the EU — will continue to face project delays, budget cuts, and, in some cases, full cancellations. Every stalled or scrapped plant is not just a missed business opportunity, but also a setback for achieving circular economy targets by 2030 and beyond.

? Conclusion: Stability Is Key to Sustainability

The future of both mechanical and chemical recycling hinges on financial and regulatory stability. Ambitious environmental goals will remain out of reach if uncertainty continues to choke off investment. EU Recycling

Policymakers, financiers, and industry leaders must work together to create an ecosystem that fosters innovation while ensuring long-term feasibility.

Until then, the industry’s momentum remains at risk — not due to lack of vision or innovation, but because of the fundamental need for certainty in a volatile world.

UK TRA Recommends Extending Anti-Subsidy Measures on Indian PET Imports

The United Kingdom’s Trade Remedies Authority (TRA) has advised that countervailing measures on polyethylene terephthalate (PET) imports from India remain in place for another five years. The recommendation, though made amidst low import volumes, is rooted in the continuing threat posed by Indian subsidy schemes to the UK’s fragile domestic industry.

What Is PET and Why Is It Important?

Polyethylene terephthalate (PET) is a widely used plastic, especially in packaging for drinks, foods, and household products. Known for its strength, light weight, and recyclability, PET is essential for the UK packaging industry and contributes to circular economy goals. EU Recycling

India is a significant producer of PET, and exports are often bolstered by government subsidies. These financial supports can make Indian PET artificially cheap, distorting global prices and putting UK manufacturers at a disadvantage.

TRA Review Highlights Ongoing Risk

Following a comprehensive review, the TRA concluded that while Indian PET imports were minimal during 2023, the existence of ongoing subsidy programs still poses a substantial threat. The report emphasized that if the anti-subsidy measures were lifted, a surge in low-cost imports could damage the UK’s domestic production.

TRA’s key findings include:

• Indian subsidy programs are still active and capable of distorting trade.
• The UK PET industry remains vulnerable, with declining sales and limited production capacity.
• Without intervention, unfair pricing could undermine the recovery and competitiveness of UK firms. EU Recycling

Based on these insights, the TRA has recommended extending the countervailing duties through 2029.

What Are Countervailing Measures?

Countervailing measures are import duties imposed to neutralize foreign subsidies. When another country offers subsidies to its exporters—like India with PET—these duties help level the playing field for domestic industries. Without them, local manufacturers may struggle to compete, leading to job losses and a decline in local production.

These trade tools are not meant to stifle competition, but to ensure it remains fair and non-disruptive.

? Impact on the UK PET Industry

The UK PET sector is facing several challenges. Even as global demand stabilizes post-pandemic, domestic producers continue to grapple with cost pressures, supply chain fluctuations, and market uncertainty. EU Recycling

The TRA noted that without protective measures, British firms could suffer a drop in market share, triggering negative effects across supply chains, including recycling and packaging industries.

Economic and Strategic Relevance

Though relatively small, the PET industry plays a key role in the UK’s sustainable packaging goals. Supporting domestic producers means reducing reliance on long-distance imports, cutting carbon footprints, and preserving jobs in local manufacturing hubs.

Stakeholder Engagement: Deadline June 13

The TRA has opened the floor for stakeholders to provide feedback until June 13, 2025. Businesses, trade groups, and consumers with an interest in PET imports, pricing, or industry health are encouraged to submit their views. EU Recycling

Once the feedback window closes, the TRA will finalize its report and submit its formal recommendation to the UK government. The Secretary of State for Business and Trade will then decide whether to continue the duties.

?? Post-Brexit Trade Autonomy at Work

This case marks another instance where the UK’s independent trade policy, following its departure from the EU, is being shaped according to national interests. Trade remedy measures like this were previously overseen by the European Commission. Now, the TRA reviews and enforces such mechanisms to ensure domestic industries are fairly treated in international trade dynamics. EU Recycling

Key Takeaways

• TRA proposes to extend countervailing duties on Indian PET until 2029.
• Indian subsidies still pose a threat, despite low import volumes in 2023.
• UK PET industry is struggling and remains vulnerable to unfair competition.
• Stakeholder comments are open until June 13, 2025.

The extension is seen as a strategic move to protect the integrity and viability of a sector essential for packaging, sustainability, and industrial resilience in the UK.

What Should Businesses Do?

If you are a manufacturer, importer, or supply chain stakeholder in the PET ecosystem, consider how these changes may impact your business. Anticipate possible cost adjustments and evaluate your supplier strategies accordingly.

More importantly, make your voice heard. The TRA’s consultation period offers a direct path for stakeholders to help shape the final decision. EU Recycling

Final Word

Even in a low-import scenario, the UK TRA has identified the potential risks of subsidy-backed dumping of Indian PET. Extending the current anti-subsidy measures is not about closing markets, but about ensuring fair, transparent competition that supports UK industry growth and environmental goals.