- Natural feedstocks fall one cent
- Supply talked snug
The US recycled high-density polyethylene markets were seen stable to lower on the day Sept. 22, as sentiment turns slightly bearish for October pricing.
Natural post-consumer HDPE bales in the Midwest spot market were assessed down one cent on the day Sept. 22 at 114 cents/lb, based on pricing indications received in a range of 113-115 throughout the day.
Even if pricing for natural R-HDPE feedstocks continues to see downward pressure, prices remain well above the year-ago level of 55 cents/lb for the national average, according to Resource Recycling.
Downstream, natural recycled HDPE pellets for blowmolding applications remained unchanged on the day at 169 cents/lb, amid no new indications of value received before market close.
In the mixed-color market, post-consumer HDPE bales were also seen unchanged on the day and on the week at 63 cents/lb, assessed at the higher end of pricing talked in a range of 61-63 cents/lb.
Though long-term demand for recycled HDPE and its feedstock remains strong, and even much higher than anticipated supply availability, sources expect prices to dip slightly in the near future despite talk of snug supply.
"[Supply] is acutely in shortage at the moment, but I was told perhaps a few cents lower in October," said a recycler.
Prime HDPE blowmolding was stable on the week at $1,797/mt (81.5 cents/lb), unchanged for five consecutive weeks, according to S&P Global Platts. Prices for injection and film are expected to fall in October.