PetroChem Wire: Recycled PET weakens in October
By Editorial Staff, Resource Recycling
PET scrap bale prices were down 2 cents in early October, to about 18.5 cents per pound, reflecting weaker demand as consumers work down inventories. The result was some downward price pressure on pellet and flake material. Green regrind for strapping sold for 42-43 cents per pound in early October, down a penny from September.
In the repro market, PET FDA clear sold in early October at September's range of between 78.5-81.5 cents per pound. Demand for PET regrind from Chinese buyers remained weak as consumption of plastic products produced in China has dropped this year versus 2011. U.S. spot ethylene prices slid 5-6 cents per pound during first-half October.
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