BIR Published Latest Edition of World Mirror on Plastics

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) announced publication of the latest edition of World Mirror on Plastics. The summer lull is likely to exacerbate the ongoing pressure on prices and margins of the material amidst rising costs. The raw material demand also looks weak, it said.

According to the report, the steady uptrend for recycled materials came to a halt in Europe during the previous month. The prices of all recyclates except rHDPE blow-moulding grades and clear rPET flakes registered decline. BIR predicts further price declines over the forthcoming weeks.

Meantime, BIR maintained bullish short term outlook for Eastern Europe, in anticipation of the fast approaching deadline of January 2025 for the Single-Use Plastics Directive by the European Union. It must be noted that the Directive makes it necessary for PET beverage bottles in Europe to have at least 25% recycled content.

In China, prices as well as demand for most recycled materials remained steady. However, ABS prices registered sharp decline from its recent highs. On the contrary, the series of sustainability initiatives by brand owners have resulted in increased demand and prices for rPET.

The U.S. natural HDPE market witnessed steady growth over the recent months, with prices experiencing gradual increase.

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