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Recycled Polymers - Europe May 2017

by ChemOrbis Editorial Team -
  • 29/05/2017 (13:54)
European Recycled Grades Update

Month: May 2017
€/ton €/ton
Recycled Grades MinMax
R-PET Flakes Clear/Blue 735890
R- HDPE Black Corrugated Pipes (PCR**)720900
R- HDPE Black Pipes (PIR**) 9701060
R- LDPE Black Film (PCR*)650770
R- LDPE Film (PIR**)10501130
R- homo-PP black injection(PIR**) 860920
R- homo-PP injection (PIR**)950980
R- PPBC injection (PIR**)8401080

* (post-consumer recycle)
** (post-industrial recycle)

The R-PET market witnessed relevant increases with respect to the previous month especially on the low end of both clear and light blue grades, while the high end showed only small variations. The R-PET range for clear grade was reported at €830-890/ton, while R-PET light blue grade range is at €735-790/ton, both on FD basis. Strong increases posted by R-PET followed the rise of COREPLA auctions at the beginning of the month, settled with an increase for both grades. However, the market saw a very limited number of done deals for May as the majority of buyers decided to skip their purchases this month, switching to the prime PET which followed a bearish trend during May. For this reason, the gap between prime PET and R-PET prices has narrowed this month and the high end of the clear grade has a delta of less than €100/ton with respect to the low end of prime PET. A recycler commented that demand was low on their side due to the rising R-PET prices and the downward trend posted by prime PET, although R-PET supply was not ample. The seller added, “The increases met with resistance from buyers and the response of the market was unsatisfying.” A buyer in the packaging sector, who usually purchases both prime and R-PET, reported to have received offers with increases over April, but he refused them as he usually purchases on the low end of the range. “We decided to purchase only prime PET this month, as prices are more competitive considering that the material doesn’t need further production costs,” he said. Expectations for June are still uncertain as post-consumer bottles availability should increase considering the warmer weather conditions, while the downward trend of prime PET could come to an end next month. Prices might stabilize or even slightly rebound, according to the market participants.

During May, the R-HDPE market followed a stable to slightly firmer trend, with limited increases of €10-20/ton in some cases. Demand-supply dynamics were not balanced amidst ample availability and good demand, but it was still below expectations during the high season. A recycler commented, “Supply both in Italy and Europe is ample, especially for the post-consumer material, as demand is not strong enough to absorb high stock levels in the market. Our demand was not bad and even relatively better than the same period of 2016; however, it is still below expectations for the high season.” A buyer reported to have purchased his material with rollovers to small increases of €10/ton over April and added, “Our demand is satisfying and in line with the period. We hope that prices will remain stable in June.” Regarding June, expectations are for stability both from the sellers’ and buyers’ side. Sellers hope to maintain their prices until the end of the high season.

Regarding R-LDPE, the market remained stable on the month. Some buyers decided to skip their purchases as they were already covered with previously secured cargoes, while others were able to purchase at a rollover. Supply and demand are reported to be balanced and therefore prices remained stable on the month. Regarding June, expectations are for stability, especially if the market dynamics remain unchanged.

The R-PP market tracked a stable trend in May with good demand and ample supplies in the market. Players reported to have concluded their deals at rollovers with respect to the last month and they added that the market remained almost muted in May. A converter commented, “Supply for R-PP remains good and therefore prices failed to increase despite the high season.” Another buyer reported to have purchased his regular volumes at a rollover from last month, adding, “We think that prices might decrease soon as availability is ample while our demand is weak.” A recycler reported to have sold his material at a rollover from last month amidst good supply levels and demand. The seller added, “We aim to maintain our prices at stable levels until the end of the high season.” Regarding next month, expectations are for a slight decrease in the market due to the calm demand, while sellers hope to maintain their prices considering seasonal factors.

Price ranges reported include an average freight cost to the customers’ location as well as duties if applicable, although VAT is not included.
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