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California PET bale price rises on post-holiday buying interest
HOUSTON, January 5, 2016 (PCW) -- California PET bale prices are up at the start of 2016. Business was done Tuesday at 15 cpp for post-consumer Grade A bales (94% or higher PET yield rate) on an FOB Long Beach basis, up 1 cpp from business done in mid-December.
Buying interest surfaced this week as reclaimers (plants that remelt scrap PET into rPET repro and regrind) returned from holiday breaks. Reclaimers include plastic bottle and packaging manufactuers' recycling units.
Grade A bales on an FOB Oakland basis were done at 14.75 cpp. Grade B bales, with a PET yield of less than 94%, were done at 9.6 cpp FOB Long Beach and Oakland. Grade B bales originating from California are often exported to Southeast Asia, but demand in the new year has been weak. -- Xavier A. Cronin