Trading activity in the recycled PET (rPET) market across Asia has slowed slightly in recent weeks as buyers adopt a cautious approach toward fresh cargoes. Export enquiries from key Southeast Asian recycling hubs — particularly Thailand, Vietnam, and Indonesia — have reduced, with converters choosing to purchase only for short-term production needs rather than building inventory.

While prices have not fallen sharply, market participants say the tone of the export market has shifted toward stable to slightly softer, especially for flake material.

Current Export Price Levels in Southeast Asia

Across major Southeast Asian export hubs, indicative prices are currently heard around:

  • rPET clear flakes (≤100 ppm PVC): $700–730/MT FOB Southeast Asia
  • Premium low-PVC flakes (<30 ppm PVC): $720–750/MT FOB
  • Food-grade rPET pellets: $1,200–1,250/MT FOB

Flake prices have eased slightly by around $5–10/MT in recent weeks, while pellet prices have remained largely stable due to steady demand from packaging converters supplying beverage and FMCG brands.

China Market: Demand Gradually Recovering After Holidays

In China, buying activity has been gradually returning after the Lunar New Year production slowdown. Chinese recyclers and fibre manufacturers are among the largest consumers of recycled PET flakes, particularly for polyester staple fibre and textile applications.

Current indications suggest:

  • Imported rPET flakes into China are trading roughly in the $720–760/MT CFR range, depending on quality and PVC content.
  • Domestic recycled PET flakes in eastern China are generally heard around RMB 5,400–5,800 per tonne (approximately $750–800/MT equivalent).

However, Chinese buyers remain cautious, as polyester fibre demand from the textile sector is still stabilising after the holiday period.

Bottle Scrap Prices Providing Cost Support

Feedstock prices across Asian collection markets have remained relatively steady, limiting the downside for finished rPET prices.

Across several Southeast Asian collection hubs:

  • Clear PET bottle scrap is currently trading around $420–470/MT
  • Processing costs remain firm due to labour, washing, and electricity expenses

Because recyclers’ input costs have not dropped significantly, sellers say there is limited room for large price reductions in export offers.

South Asian Markets: India and Bangladesh

India

India remains one of the region’s key producers and exporters of recycled PET.

Indicative export offers currently stand around:

  • Premium rPET flakes: $830–860/MT FOB India
  • Food-grade rPET pellets: $1,150–1,220/MT FOB India

Domestic demand continues to come from packaging converters, fibre producers, and beverage supply chains, although buyers are negotiating more actively amid global price uncertainty.

Bangladesh

Bangladesh’s recycling market is closely linked to its large textile and polyester fibre industry.

Buyers in Bangladesh are currently procuring smaller cargoes, with import prices for recycled PET flakes generally heard around $760–800/MT CFR Bangladesh, depending on quality and shipment size.

Purchasing behaviour remains cautious as the country’s textile export sector adjusts to global apparel demand trends.

Impact of Middle East Tensions

Market participants are also monitoring the ongoing geopolitical tensions in the Middle East. The conflict involving Iran has increased uncertainty in energy and shipping markets.

Key concerns include:

  • Potential disruption around the Strait of Hormuz, through which nearly 20% of global oil trade passes
  • Rising marine insurance and freight costs
  • Upward pressure on crude oil prices, recently trading in the $80–85 per barrel range

Higher energy and freight costs could eventually influence both virgin polymer pricing and recycling economics across Asia.

If virgin PET prices increase due to energy costs, recycled PET could become more competitive in packaging and fibre applications.

Market Sentiment

Overall sentiment across the Asian rPET market is currently described as cautious but balanced.

Traders report that:

  • Spot trading activity has slowed slightly
  • Buyers are focusing on short-term procurement
  • Pellet demand remains more stable than flake demand

Despite softer export enquiries, recyclers across the region continue to operate at normal production levels.

Polymint Market View

The recent slowdown in Asian rPET trading appears to be largely seasonal, linked to post-holiday demand adjustments and cautious purchasing behaviour.

However, the market is closely watching several factors that could influence pricing in the coming weeks:

  • China’s polyester fibre demand recovery
  • Bottle scrap availability across Asia
  • Freight and energy costs linked to Middle East tensions

Any sustained increase in energy prices or logistics costs could reshape pricing dynamics across both virgin and recycled PET markets.

Source — AP News and Reuters

—  PolyMint