From PetroChem Wire . . . .
PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.
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Michigan's Clean Tech takes PET, HDPE bales in Florida muni sale
HOUSTON, February 28, 2019 (PCW)-- Recycling giant Clean Tech Inc of Dundee, MI was the winning bidder for 12 truckloads of curbside PET scrap bales and three truckloads of HDPE natural bales in the Solid Waste Authority of Palm Beach County, FL's March bid offering sale, the SWA announced on Wednesday.
Clean Tech paid 16.1 cpp for the PET bales and 34.5 cpp for the HDPE natural, FOB SWA facility, in line with prices seen in many spot markets east of the Rockies over the last week.
The SWA also sold one truckload of mixed numbers 1-7 plastic scrap, bottles and containers, to New Life SAS LLC at 19.99 cpp, and three truckloads of mixed colors HDPE bales to SARG Recycling at 18.11 cpp.
Clean Tech recycles 3 billion PET and HDPE bottles/year, sourcing this scrap from 350 "recycling centers," according to its web site.
The SWA's monthly bale sales are widely referenced price markets for plastic scrap markets east of the Rockies. -- Xavier A. Cronin