Higher demand for bottled water and soft drinks in the summer led to an increase in demand for PET bottle resin, which caused a slight increase in prices.
Prices for PET bottle resin in North America rose by an average of 1 cent per pound in April due to higher raw material costs. Material prices remained unchanged for two straight months after rising 2 cents in January.
Strong seasonal demand for bottled water and other beverages and a lack of new capacity, as well as freight and logistics issues, are also playing a role in PET price increases in 2022.
Alpek SAB de CV’s recent decision to close its PET plant in Charleston, South Carolina will impact PET supply in the region. The plant, called Cooper River, was built in the early 1970s and has an annual capacity of around £375 million.
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Post time: Jun-30-2023