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PET strapping green scrap chops lower on weak export demand
HOUSTON, January 13, 2015 (PCW) -- Demand for PET strapping green scrap chops is down from Asia, causing US suppliers to lower offers by 2 cpp from last week.
Offers for transluscent chops for export from East Coast ports were 16 cpp and at 6 cpp for mixed-colors chops.
Strapping green chops are made from strapping scraps that have been washed and chopped into small pieces to be recycled.
Demand from China is down as many plastic scrap processing plants in that country will be closed in the first half of February for the New Year holidays. China is the largest destination of US plastic scrap exports.
Demand from US chops users is also down. This is the result in part from many US companies that use strapping green to secure boxes and containers on to pallets and fixtures recycling it on their own. -- Xavier A. Cronin