22 August 2013 23:09 [Source: ICIS news]
HOUSTON (ICIS)--A decline in US consumption of soda and soft drinks will further flatten the US market for recycled material, sources said on Thursday.
Coca-Cola, PepsiCo and Dr Pepper Snapple Group each reported selling less soda and soft drinks in the second quarter. Coca-Cola reported a decrease in sales of 4%, Dr Pepper reported a 3% decrease, and PepsiCo reported a decrease as well.
Such decreases in consumption also lower the amount of recycled material available in the market, a PET trader said. The US recycling market has been flat for most of the year, with recycling producers on both the east and west coasts indicating that they have sold less material.
“People are drinking less soda,” a source said. “That is definitely impacting PET in the US.”
The source also indicated that they expected PET prices to remain flat for the rest of 2013.
Current ICIS-assessed prices for US PET are 82.50-87.50 cents/lb ($1,819-€1,929/tonne, 1,364-1,447/tonne).
($1 = €0.75)
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