Recycled Plastics Market Rebounds as Virgin PET Prices Rise and Export Demand Increases
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European bale prices increase amid higher demand and need to meet recycling goals
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US bale prices also uptick as import competition from Asia decreases domestic flake sales
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Prices had fallen in 2022 due to high premiums of recycled PET over virgin and lower seasonal demand
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Improved cost dynamics, as virgin PET gets pricier, spur PET recycling demand
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Export markets like Germany, Turkey support US West Coast prices despite lagging domestic demand