PetroChem Wire: Abundant supply pushes PET prices lower

U.S.-produced bottle-grade prime PET prices fell 2.5 cents per pound last week in response to a surplus of domestic resin and imported PET with an intrinsic viscosity of 78 milliliters per gram or higher. Domestic railcars were done at 52 cents per pound and 54 cents per pound delivered Chicago area. Imported PET from Asia sold at 52 and 53 cents per pound delivered California port.

Curbside PET bales made up of 73 percent to 93 percent PET were sold late last week at 13 to 14 cents per pound FOB Midwest locations. That was down 0.75 cents per pound from a week earlier.

An abundance of PET bales in many municipalities is tied to rising recycling rates. Curbside bales in the Southeast and U.S. Gulf were 0.5 to 1 cent per pound higher than the Midwest. In the Northeast, curbside PET bales were 13 to 15 cents per pound picked up locations as far north as Maine.

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.