Construction has been delayed on two large U.S. prime plastics plants – one because of high costs and the other due to coronavirus. At the same time, an oil price war put downward pressure on virgin plastic prices.
The global escalation of COVID-19 is leading reclaimers to enact new safety regulations, while on a wider scale it impacts some collection programs, reduces Asian scrap plastics demand, constrains global shipping, dents stock prices and threatens an economic recession.
Cascade Cart Solutions has produced 22 million carts for Waste Management over three decades, but last week marked a milestone: the first time the company has deployed carts made with recycled curbside residential plastics.
Scrap plastic exporters should closely monitor policy changes in the countries they sell to as the global community prepares to enact more aggressive shipment requirements, according to the top staff member for the Basel Convention.