The average prices of scrap PET bottles saw a rise, where the start of the month started at a low of ₹ 48.5/kg and reached a high of ₹ 52.4/kg . The price fluctuation was due to multiple reasons:
- Winter season
- Rise in Crude oil prices
- Rate increase of Virgin Fibre
- COVID-19 Pandemic
A consistently high rate was observed in northern India with ₹ 55/Kg at the highest in Punjab. On the other hand, the lowest rate was observed in Gujarat at – ₹ 46/Kg.
Week 1 (1st – 7th January)
Highest ⬆️ : ₹ 48.5/kg
Lowest ⬇️ : ₹ 47.6/kg
Week 2 (8th – 14th January)
Highest ⬆️ : ₹ 49/kg
Lowest ⬇️ : ₹ 47.8/kg
Week 3 (15th – 21st January)
Highest ⬆️ : ₹ 50.9/kg
Lowest ⬇️ : ₹ 49.5/kg
Week 4 (22nd – 31st January)
Highest ⬆️ : ₹ 52.3/kg
Lowest ⬇️ : ₹ 51/kg
Factors affecting scrap PET bottle prices
There are multiple factors affecting the PET Scrap prices in India. In a broader view, the prices have seen a rise due to – Gaps in Demand & Supply.
To be more specific, the factors affecting PET bottle scrap prices in India are:
- Winter season accounts for low consumption of PET consumer goods, which reduces the supply of scrap PET bottles
- Crude oil prices saw a rise from December 2020, which affected the virgin plastic market inturn increasing the demand for scrap PET bottles
- Rate increase of Virgin Fibre increased the demand for fiber made from recycled PET plastic which increased the demand for PET bales
- COVID-19 Pandemic reduced the availability of material, making it a dearer good.
Stay tuned for our next blog on ‘How seasons have an impact on the prices of PET bottle scrap’.
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