China rPET Bale Prices Rise for Ninth Week on Higher vPET, Clean Bale Demand
China’s recycled polyethylene terephthalate or rPET bale prices have risen for a ninth consecutive week, supported mainly by higher virgin PET prices and firmer demand for clean bottle bales, market participants said this week.
According to OPIS data, rPET bale-without-label prices continued to trend upward, as sellers continued to raise offers in response to higher bottle bale procurement costs, rising virgin prices and firmer energy markets. The prices for bales without labels rose from $710 -$770 per metric ton on March 31 to $750-$850/mt on April 8, while those for bales with labels and rPET premium flakes remained at $565-$580/mt and $930-$1,000/mt over the same period.
Elevated vPET prices have been the key driver, strengthening the competitiveness of recycled material and allowing recyclers to maintain higher offer levels.
Demand for cleaner bales continues to support the market, as recyclers and processors prioritize higher-yield feedstock amid rising operating costs. Several sources said the limited availability of clean bales has intensified competition and pushed procurement prices upwards.
However, overall demand for rPET remains muted, with buyers continuing to purchase cautiously due to high prices and uncertain downstream order visibility. Some converters said purchasing sentiment has weakened further as high prices have reduced buying appetite, with many opting for hand-to-mouth procurement instead of building inventory.
Recyclers have also cited higher costs of transportation, labor and utilities, which have increased processing expenses and reinforced upward pricing pressure.
Market participants added that broader market sentiment remains cautious amid ongoing geopolitical instability, which has contributed to volatility in energy and petrochemical markets and limited buyer willingness to commit to large volumes.
Market sources expect China’s rPET market to remain firm in the near term on continued support from vPET pricing and tight clean bale supply, although further price gains may be capped unless downstream demand improves.
—Reporting by Xin Nee Chua, xchua@opisnet.com; Editing by Mei-Hwen Wong, mwong@opisnet.com