05 July 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)--European mixed coloured flake recycled polyethylene terephthalate prices increased by €20/tonne ($25/tonne) on tight supply, thus continuing to reach record breaking levels, sources said on Tuesday.
Values were now assessed at €750-870/tonne FD (free delivered) NWE (northwest Europe), according to ICIS.
“We heard prices in Italy could be up to €910/tonne, so this could bring numbers up in Germany by another €50-60/tonne,” said one German buyer.
Mixed coloured flakes first hit record highs on 29 March when they were trading at €570-700/tonne, before climbing further over the last two months. The previous high was €650/tonne, seen from 16 June 2008 until 3 November 2008.
Prices across all other grades remained stable, at their previously established record high levels.
The R-PET market has been in tight supply since the fourth quarter of 2009 because of low collection rates at post-consumer recycling facilities.
“We are not sure when this is going to end. I can’t see prices falling for at least a couple of months,” said one buyer.
($1 = €0.80)
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