Le Lézard
Classified in: Mining industry, Oil industry, Business
Subjects: ECO, ASI

S&P Global Platts to Assess Prices for Asia Recycled Plastics


SINGAPORE, June 30, 2020 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced the launch of new Asia price assessments for recycled polyethylene terephthalate (R-PET), in light of market demand for greater transparency and increasing consumer demand for recycled plastics.

The launch of the new FOB Southeast Asia R-PET assessment completes Platts global coverage for R-PET, in addition to existing R-PET assessments in Europe and US.

The new assessment will help to meet a growing need from market participants for high quality transparent pricing information for this fast developing market in Asia.

Vanessa Ronsisvalle, regional pricing director, Asia petrochemicals, S&P Global Platts, said, "The addition of new daily recycled PET price assessments for Southeast Asia builds on Platts strong foundation of virgin polymer benchmark prices across Asia. The increased transparency brought by these new assessments will help the development of the nascent recycled PET market in Southeast Asia by providing the market with an independent view of market value to help participants make informed trading decisions."

Extensive market research carried out by Platts showed huge growth in involvement from companies in the recycled plastic space in Asia with a corresponding demand for insights and transparency. This takes place amid a rise in global concern over environmental sustainability which is prompting big brands to announce aggressive targets for the use of recycled materials in their packaging globally.

Shelley Kerr, global head of petrochemicals markets, S&P Global Platts, said, "Plastic waste is a global issue. To tackle this problem in Southeast Asia, companies have looked into increasing the production and trade of higher quality recycled plastics through improvements in plastic waste management. The insights contributed by S&P Global Platts will be valuable to the development of the market as it becomes increasingly commoditized."

The new daily FOB Southeast Asia assessment will reflect a recycled PET flakes quality specification based on an intrinsic viscosity (IV) level of 0.70 ? 0.78, PVC content of 50-100 parts per million (ppm), and 100% clear in color.

The new assessments will follow a Platts Market-On-Close (MOC) price assessment methodology, with the daily end-of-day price assessment reflecting values and activity observed in the open physical markets.

For additional details, consult this methodology and specifications guidelines page. https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/petrochemicals/asia-pacific-petrochemicals-methodology

For additional information on the R-PET price assessments, contact (petchems@spglobal.com)

More petrochemicals information at: https://www.spglobal.com/platts/en/commodities/petrochemicals

S&P Global Platts has been covering petrochemicals markets for nearly 40 years, and has an extended suite of aromatics and olefins and price assessments regionally and globally.

About S&P Global Platts

At S&P Global Platts, we provide the insights; you make better-informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

 

SOURCE S&P Global Platts


These press releases may also interest you

at 07:00
Spartan Delta Corp. ("Spartan" or the "Company") is pleased to provide an update on the Company's operational and corporate activities since the closing of its transformational transaction on June 1, 2020, which included the acquisition of...

at 07:00
Talisker Resources Ltd. ("Talisker" or the "Company") is pleased to announce that the Company will be adding a second drill rig in July at the Bralorne Gold Project, British Columbia.  In addition, Talisker will be increasing its drill plan from...

at 07:00
As per Global Market Insights Inc., the nanocellulose market is expected to hit nearly $418.2 million by 2026, registering a CAGR of 21.4% from 2020 to 2026. The report provides a detailed analysis of the opportunities and drivers, key avenues of...

at 06:00
Marex Spectron, the global commodities specialist, today announced the appointment of Ram Vittal as Chief Executive Officer, Marex Spectron North America, reporting to Ian Lowitt, Group Chief Executive.  Ram will be based in New York....

at 04:00
Enterprise virtual reality (VR) software company Immerse has today announced a partnership with multinational energy business bp.     bp will integrate their own VR content into the Immerse Virtual Enterprise Platform (VEP). The training will be...

at 02:24
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") , one of the largest and most innovative solar module manufacturers in the world, today announced that it will supply 126 MW of solar modules for the expansion of an existing 160 MW solar...



News published on 30 june 2020 at 23:56 and distributed by: