PET-supply-tight – Petrochemicals 23-05-2022

PET-supply-tight – Petrochemicals

Crude Oil Prices Trend 

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PET-bottle -Petrochemicals – Polyolefins 

PET-supply-tight - Petrochemicals

-PET supply tight, prices rising

Despite record-high PET bale prices, one reprocessor says bale quality has not improved.

A bottle-to-bottle polyethylene terephthalate (PET) reprocessor based in the Midwest says scrap supply remains tight, with bale prices at record highs as of the start of May. The rise in demand and pricing is partly related to recycled-content mandates in the European Union, she says.

“Currently, the European market is very tight, which is impacting any imports into the U.S. as product gets diverted to Europe, where pricing is higher than the U.S.,” the PET reclaimer says.  PET-supply-tight – Petrochemicals

Despite the record-high bale prices, she says her company has seen minimal improvements in bale yield.

Demand for recycled PET has pushed its pricing higher than that of virgin PET, the recycler says, which also is at record highs.

“PET has skyrocketed, while PE/PP (polyethylene/polypropylene) has held its own nicely,” a thermoplastic recycler based on the West Coast says.

PET supply tight, prices rising

-Bottle Grade PET resin price hits 4-year high

Recently, bolstered by hiking crude oil and tight spot supply, bulk discussion for PET spot and near-term goods has breached above intra-year high to 9000-9050yuan/mt, the first time that hiked above 9000yuan/mt since Jan 1 2018.

So far, China PET bottle chip industry run averages at 84.7% (94.3% if based on designed capacity of 11.71 million tons), which is a flat figure compared with past few years. Factory stock level averages at 10.5 days, way lower from 2020’s 19-20 days and 2021’s 14-15 days. Besides, the epidemic control and plants glitch have caused contract supply reduction, hence market players are a bit worried about the supply in Jun-Aug, which make downstream stock build even more intensive. According to CCFGroup incomplete statistics, large end-user plants restocking volume has reached 150kt in May. Some plants have already restocked part of the contract previously, but to guarantee normal delivery, they still choose to increase purchasing volume to scatter the risk.

PET-supply-tight - Petrochemicals

-PET-bottle -Petrochemicals – Polyolefins 

PET-supply tight, prices rising

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PET-supply-tight – Petrochemicals

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