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The impact of global events on Latin America’s PET industry
Maritza Ramirez recently presented at the LAPET Meeting in Mexico city. In her presentation, “Are Changes in Global Supply and Demand Helping or Hindering the Latin American PET Industry?”, Maritza, Senior PET Consultant for Wood Mackenzie Chemicals, explained that PET events in China or Europe can have immediate effects in Latin America.
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When China’s announcement came via the World Trade, in July 2017, that it would cease accepting PET waste from the end of the year, this created major concerns.
China cited a desire to recycle more of their own PET waste rather than importing it from overseas as the reason behind the ban. For somewhere like Mexico, this is a huge issue as China has represented 70% of its current PET scrap exports. In Latin America, countries that have been exporting PET waste to China are now looking at alternative recipients as well as promoting more of their own local recycled end-use markets. The impact of China’s decision will have global impacts too.
In addition to China’s PET waste import ban, the Mossi and Ghisolfi Group (M & G) bankruptcy, declared in early October, was reviewed. The conference highlighted some of the many questions that remain, such as how long the tight supply in Latin America will last and who will purchase Altamira, Apple Grove and Suape plants and when.
To stay on top of the latest supply, demand, pricing trends and key events affecting the PET industry, invest in reading the Wood Mackenzie's PET and Recycled PET reports. The best recommendation in times of uncertainty is to have a wealth of knowledge readily available to enable you to plan ahead.