Clear U.S. Food and Drug Administration-grade pellets were sold at 60 cents per pound picked up U.S. South (63 cents per pound delivered Midwest) around March 10, up 1.5 cents per pound from the beginning of the month. PET food-grade sheet flake material was reported a penny higher last week at 42 to 43 cents per pound FOB U.S. East Coast and clear flake from staple fiber was up several cents to 32 to 35 cents per pound, same basis.
Meanwhile, prime spot PET, which was 57 to 58 cents per pound delivered Midwest by rail at the beginning of March, increased closer to 59 to 61 cents per pound by the end of last week, supported by strengthening seasonal end-user demand.
In the U.S. West Coast PET bales market, Grade A bales in California were done in a bid offering March 14 at 20.71 cents per pound FOB Long Beach, down 0.1 cents per pound from the previous sale Feb 28. Grade A bales FOB Oakland were done at 20.51 cents per pound, up 0.06 cents per pound. The next Golden State PET bale bid offering is set for March 28.
PET bale import demand from China is down this month from February due to the National Sword 2017 initiative in China, which has tightened quality standards and increased inspections of plastic and other scrap and waste imports at ports.
For a free trial to PCW’s Weekly Recycled Plastics Report, Weekly PVC & Pipe Report or Daily Report on prime resins, monomers and NGLs visit the PetroChem Wire website at petrochemwire.com. You can also contact Cindy Bryan at cindy@petrochemwire.com or 713-385-1407.
