Further expands transparency to the value of recycled plastics
LONDON , May 4, 2023 /PRNewswire/ -- Platts, part of S&P Global Commodity Insights, the leading independent provider of information, analysis, data and benchmark prices for commodities, energy and energy transition markets, has announced the launch of first-of-kind daily price assessments of European recycled polystyrene (R-PS) plastic, commonly found in household items such as coat hangers, light switches and electrical coverings.
This launch follows market engagement and complements the growing suite of Platts price assessments for differing types of recycled plastics, as well as the core suite of price references for virgin polystyrene and other plastics.
The two new price assessments, that reflect values on a delivered-duty-paid-(DDP) basis into Northwest Europe and expressed in Euros per metric ton, are:
- Platts recycled polystyrene (R-PS) grey pellets
- Platts recycled polystyrene (R-PS) black pellets
With the increasing focus on sustainability, companies and public bodies are looking for more transparency on pricing in new markets, particularly those that are part of the circular economy. As the wider industry and downstream markets look beyond traditional plastics to increase the use of recycled material, transparency in these markets is increasingly important.
Luke Milner, Associate Editorial Director, EMEA Chemicals, S&P Global Commodity Insights, said: "Increasingly, we're seeing that market fundamentals and pricing of recycled plastics are trending toward independence from their virgin, fossil-based counterparts, and with that, there is growing industry interest in new and additional pricing solutions and transparency in the evolving marketspace."
Jesse Tijerina, Americas Analysis and Research Lead, Chemicals, S&P Global Commodity Insights, said: "The recycling of polystyrene continues to grow, with recycle volumes becoming more relevant each year. As this trend continues, recycled polystyrene becomes more available to a larger sector of PS converters, leading to more transactions, and more competition with virgin PS. Physical market price indications will provide plastics industry participants additional useful market information needed to continue the transition to the plastic circularity model."
Platts' pre-existing suite of recycled plastics for Europe, includes: polyethylene terephthalate (PET), polypropylene (PP), low-density polyethylene (LDPE) and high-density polyethylene (HDPE) in Northwest Europe and related assessments in Asia and the United States.
The new and existing price assessments are available via S&P Global Commodity Insights publications and services.
EMEA: Paul Sandell, + 44 (0)7816 180039, firstname.lastname@example.org
Americas: Kathleen Tanzy, +1 917-331-4607, email@example.com
Asia: Melissa Tan, +65-6597-6241, firstname.lastname@example.org
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SOURCE S&P Global Commodity Insights