SE Asian players receive more offers for scrap plastics amid China ban
According to media reports, China, the biggest importer of scrap plastics, will start to implement the ban as of January 1, 2018 despite players’ growing concerns regarding the global recycling industry, which is likely to be hit by the absence of China.
Data from International Trade Centre indicate that China imported 7.3 million tons of waste plastics in 2016 from countries including Japan, the US and the EU.
A converter operating in Vietnam’s PET market noted, “More import offers for recycled materials have emerged in Southeast Asia since China announced the ban decision in July. We also hear that a good amount of material have already been sold to Vietnam. This is good for us as we now have more alternatives when making purchases while offers are more competitive.”
A source from a Thai polymer producer commented, “We hear that several recycler companies are planning to exit from the Chinese market soon and move their operations to other destinations. However, even if other countries start to import more recyclable polymers, their total volume will not be as much as China’s overall import volume. Hence, we think that major scrap plastics exporters should find ways to eliminate their waste.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Global PET markets surge on heels of costs, tightness
- SE Asia PP uptrend fueled by China’s strong return
- US PE offers back in the game in global markets
- Egypt’s PP, PE markets rise to 5-month high in October
- Oct PE pricing under discussion amid rising costs, tepid demand in Europe
- Crude at multi-year highs contributes to a perfect storm in polymers
- An enduring challenge: Unprecedented times in PVC markets
- Saudi major opts for firm Oct pricing in both local and export polyolefin markets
- Coal prices hit record highs in China with knock-on effects for PP, PVC markets
- European PP players foresee stability for Oct despite higher propylene