SINGAPORE, Dec. 10, 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 a new daily recycled high density polyethylene (HDPE) film pellets spot price assessment, to meet growing demand for pricing information in the recycled plastic markets in Southeast Asia.
The introduction of this Free-On-Board (FOB) Southeast Asia assessment follows the launch of recycled polyethylene terephthalate (R-PET) clear flakes in Southeast Asia on July 1, 2020 and adds to existing virgin HDPE price assessments, offering a more complete view of the polyethylene value chain in the region. In addition, the introduction of R-HDPE price assessments in Asia complements the existing ones in Europe (post-consumer mixed bales, R-HDPE light pellets), offering market participants information across the two regions.
Ben Brooks, Head of Plastics Recycling Price Reporting, S&P Global Platts said, "The addition of this new daily recycled HDPE spot price assessment for Southeast Asia builds on Platts' strong foundation of virgin polymer benchmark prices across Asia. In what has been a challenging year for recycled plastics in Southeast Asia due to the coronavirus pandemic, the increased transparency brought by this new spot price assessment will provide the industry with an independent view of market value, helping market participants navigate the emerging commodity market and make informed trading decisions."
Shelley Kerr, Global Head of Petrochemicals Market Pricing, S&P Global Platts, said, "This new assessment will help meet a growing need from market participants for high quality and transparent pricing information for a fast developing recycled plastics market in Asia. With increasing consumer demand for recycled plastics and more corporations moving towards green initiatives, demand for recycled plastics will likely pick up and may displace some virgin growth in the long term."
HDPE is used in a range of consumer products including shampoo bottles and garbage bags. The new daily recycled HDPE film pellet FOB Southeast Asia assessment will be published in $/mt, and reflects cargo sizes of minimum 15 mt for loading 15-30 days' forward from the date of publication from Port Klang in Malaysia, Bangkok in Thailand, Jakarta in Indonesia, Singapore, Batangas in the Philippines, and Cat Lai in Vietnam.
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
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.
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SOURCE S&P Global Platts