PET flakes – U.S. stocks experienced their largest weekly decline since March 2023, fueled by weaker-than-expected economic data and cautious comments from Federal Reserve officials 10-09-2024
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Ganesha Ecopet Tackles Climate Change with PET Bottle Recycling
Ganesha Ecopet, a leader in PET recycling in India and a subsidiary of Ganesha Ecosphere, has expanded its bottle-to-bottle recycling capacity to 42,000 tons annually. With two new Starlinger Recostar PET 165 HC iV+ lines, the company tripled production of recycled PET (rPET), aiming to recycle 25% of India’s PET waste by 2026.
The demand for food-safe rPET in India is driven by government mandates and shifting consumer preferences. PET flakes
The 2022 Plastic Waste Management Rules require producers to include 30% recycled content in PET bottles by 2025, increasing to 60% by 2029. Additionally, sustainability is a growing priority for young Indian consumers, making rPET an attractive option due to its recyclability and low carbon footprint.
Ganesha Ecosphere’s experience and commitment to advanced technology allow them to produce high-quality rPET, supporting global markets in India, the U.S., and Europe. Their operations focus on sustainability by recycling 95% of process water and increasing renewable energy use. PET flakes
Sourcing PET bottles from over 300 suppliers across India, Ganesha Ecopet works within the country’s highly efficient waste management network. The Indian government incentivizes better waste practices and encourages startups to innovate in collection and recycling.
With over 30 years of expertise, Ganesha Ecosphere continues to lead in PET recycling, processing 9.4 billion bottles annually and exporting globally. PET flakes
How can we spur plastic upcycling? Turn it into something valuable
Scientists convert harmful microplastics into valuable graphene using plasma, offering a promising solution for this type of pollution.
A growing body of evidence suggests microplastics are harmful to human health — an alarming finding given the presence of microplastics in almost every environment on the planet. The potential health risks and our heavy reliance on plastics drove a sense of responsibility in a group of Australian scientists. PET flakes
Leveraging their expertise to help solve the problem, they’ve applied an established technology to up-cycle plastic pollution into valuable graphene — a material composed of a single layer of carbon atoms. At this nano-sized scale, it takes on unique properties that make it valuable for electronics, biomedical technology, solar panels, and other hi-tech functions. PET flakes
Mohan Jacob, a professor of electrical engineering at James Cook University in Australia, has been working for a decade on ways to produce environmentally friendly, sustainable, valued resources, and recently began brainstorming how a technique called atmospheric pressure microwave plasma could be used to transform the carbon in plastic into graphene.
“Atmospheric pressure microwave plasma is an advanced technology that generates plasma at atmospheric pressure using microwave radiation,” Jacob explained.
Plasma is a state of matter consisting of free ions and electrons, which occurs when a gas is subject to high energies. To create atmospheric pressure microwave plasma, microwaves are channeled into a chamber filled with a gas such as argon. This excites the gas and creates the highly reactive plasma. PET flakes
APR updates position, recyclability category for degradable additives
The organization says packaging that includes degradable additives, nutrients or supplements renders that packaging “nonrecyclable.”
The Association of Plastic Recyclers (APR) has released updates to the recyclability category and formal position for degradable additives, nutrients and supplements. Based on the organization’s definition of “recyclable,” they are now included in the category of “renders the package nonrecyclable” in its APR Design Guide for Plastics Recyclability.
According to the APR Design Guide, a design feature renders a package nonrecyclable if the majority of material recovery facilities (MRFs) or reclaimers cannot remove such features to the degree required to generate a marketable end product. PET flakes
The organization says a package including degradable additives, nutrients or supplements cannot be detected using commercially available technologies and will affect both the quality and yield of postconsumer resin (PCR) when they perform as designed. An item, package or film containing any of these design features renders the entire item, package or film nonrecyclable.
“This change in categorization is based on research and reports published by independent research groups and better aligns APR with other NGOs [nongovernmental organizations] in the recycling and circularity space, as well as international manufacturers and retailers,” APR President and CEO Steve Alexander says. “This update clearly reflects APR’s mission to improve all aspects of the plastics recycling process and protects the quality and yield of the PCR stream.” PET flakes
China’s growing involvement in Africa was recently underscored at the Sino-African Forum (FOCAC) in Beijing, where President Xi Jinping welcomed fifty African leaders
This summit aimed to solidify China’s influence on the continent through strengthened cooperation and agreements. Xi announced key initiatives, including opening Chinese markets to 33 African nations, supporting Africa’s development plans, and investing 360 billion yuan in infrastructure and technological projects.
China’s “Going Out” strategy, especially through the Belt and Road Initiative, has expanded its global reach, challenging U.S. dominance and offering an alternative model of globalization. PET flakes
Despite internal challenges like rising debt and labor market issues, China has adopted a more cautious “small but beautiful” approach to avoid overexposure.
Beyond economic interests, China seeks greater involvement in global security, as highlighted by its multilateral ties with Africa and alliances with nations like Russia. China’s rapid transformation—from a developing country to a key global economic player—has reshaped global power dynamics, challenging Western dominance. PET flakes
Xi’s authoritarian leadership has reinforced China’s assertiveness on the world stage. While its methods may be difficult to interpret through a Western lens, China’s rise demands nuanced observation, not simplistic clichés. The challenge for the West is to develop structures that effectively counterbalance China’s growing influence while understanding the complexity of its ambitions.
U.S. stocks experienced their largest weekly decline since March 2023, fueled by weaker-than-expected economic data and cautious comments from Federal Reserve officials
The S&P 500 fell 1.7% on Friday, totaling a 4.2% weekly loss, while the Nasdaq Composite plunged 5.8%, marking its worst decline since January 2022. Weaker payrolls data, with 142,000 jobs added in August (below forecasts of 160,000), raised concerns about an economic slowdown. PET flakes
Technology stocks led the sell-off, with investor sentiment further dampened by remarks from Fed officials suggesting a measured approach to future interest rate cuts. Fed Governor Christopher Waller hinted at the possibility of more aggressive cuts if needed, triggering a rally in U.S. Treasuries. The two-year Treasury yield dropped to 3.66%, while the 10-year yield slipped to 3.72%.
Global markets echoed Wall Street’s downturn, with Europe’s Stoxx 600 falling 1.1%, and Asian markets like Japan’s Topix and China’s CSI 300 also seeing declines. Oil prices hit yearly lows, with Brent crude down 2.5% to $70.90 per barrel, reflecting concerns over weakening demand in both the U.S. and China. Despite OPEC+ delaying production increases, worries over demand persist. PET flakes
Market volatility is expected to continue as investors monitor economic data and Federal Reserve decisions, with uncertainties surrounding the timing and extent of future rate cuts. Some analysts view the market reaction as exaggerated, though risks of a broader economic slowdown remain.
Slowing housing demand has impacted PVC prices, while PET resin prices also fell. U.S. housing starts in July dropped 4% compared to June and were down 7% compared to July 2023
This slowdown in construction activity contributed to weaker demand for PVC, a key material used in building and construction.
In the North American resin market, both PVC and PET bottle resin prices reversed direction in August, with each material seeing a decline of 2 cents per pound. This price drop marks a shift from earlier increases and signals a potential easing of supply pressures. PET flakes
The decline in housing starts and resin prices highlights broader economic challenges, as slower construction affects demand for materials, and price adjustments reflect shifts in market conditions.
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