HOUSTON (ICIS)--Mexico bottle bale prices for US recycled polyethylene terephthalate (R-PET) tightened by 1 cent/lb this week, as sources indicated on Thursday that demand in Mexico is picking up.
Prices tightened to 22-24 cents/lb ($485-529/tonne). That is a 1 cent increase on the low end of the range.
Sources in recent weeks have indicated that the Mexican market was becoming more competitive, as it exports more material to China. The US has been exporting less material to China because of that country’s “Green Fence” environmental policy, which puts restrictions on the amount of dirty material it imports.
Sources in the US recycling markets have speculated that China has been purchasing cheaper material from Mexico to save on costs of cleaning it once it is shipped to that country.