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PET prices drop again in December

North American PET bottle resin prices fell an average of 1 cent per pound in December, marking the fifth consecutive month a decrease.

Prices also had dipped 1 cent in November. The total five-month price drop added up to 11 cents. The December slide followed lower prices for raw materials, including paraxylene and purified terephthalic acid.

Combined with previous increases and decreases, PET prices were down a net of 10 cents in 2024. PET demand in North America began to decline in August. Seasonal demand for bottled water and carbonated soft drinks often influence North American PET prices. Demand from those markets typically declines when weather cools in most of the region later in the year.

In a recent report, the Beverage Marketing Corp. consulting firm outlined how PET and other plastics have maintained a strong market share in the beverage market.

"Plastic containers offer product visibility and can be molded into recognition-enhancing custom shapes, which can include hand holds for easy gripping and pouring and cup-holder friendly footprints to suit today's mobile consumers," the report said.

It added that, as a result, plastic is a popular choice for single-serving containers intended for on-the-go consumption, as well as multi-serving sizes formerly packaged in heavier or non-reclosable formats.

A higher price point and the popularity of larger reclosable plastic containers is driving the vending channel to convert from 12-ounce cans to 16, 20 or 24 ounce PET bottles, the report said.

"Although these containers officially contain two or more servings [typically 8-ounce], many consumers see them as single-serve and consume them as such," it added.

* Source : https://www.plasticsnews.com/resin-pricing/pet-prices-drop-again-december

* Edit : HANDLER