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.
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SOURCE S&P Global Platts