Partial Recovery in Plastic Recycling Market... Export of Used Clothing Declines Causing 'Backlog'

Ministry of Environment Signs Business Agreement with Recycling and Textile Industries on the 19th to Expand Use of Recycled Materials

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The recycling market for waste plastics such as PET and polyethylene (PE), which faced difficulties due to the impact of the novel coronavirus infection (COVID-19), is showing signs of recovery.

The Ministry of Environment announced the results of a daily survey of the recycling market conducted by the Korea Environment Corporation and the Korea Recycling Resource Distribution Support Center on the 18th.

According to the report, the distribution flow of recycled PET raw materials, which are recycled into fibers and transparent containers, has gradually improved since May, with sales volume recovering to 7,737 tons in the second week of June, reaching the level of March.

Polyethylene, recycled for use in sewage pipes and other applications, has also recovered to March sales levels, with the sales price slightly rising to 737 KRW/kg.

The recovery trend in the PET and polyethylene recycling markets is attributed to the government's public stockpiling efforts and the partial resumption of overseas exports of recycled raw materials.

However, the recycling markets for polypropylene (PP) and waste clothing among plastic recycled raw materials have not improved to the levels seen in previous years. A Ministry of Environment official stated, "We will continuously monitor the trends."

Polypropylene recycled raw materials, used in automotive interior materials and others, have seen some increase in sales since the beginning of this month but have not reached March levels. Accordingly, the Ministry of Environment has been promoting public stockpiling of polypropylene recycled raw materials (about 2,220 tons) since the 8th. They plan to continue monitoring the market recovery trend along with the trends in related industries such as automobiles.

In the case of waste vinyl, the amount stored at sorting facilities has remained at levels similar to last month. The Ministry of Environment stated, "Due to factors such as decreased demand for solid recovered fuel (SRF) in the summer season, we will continue to monitor the market situation."

Waste clothing continues to accumulate due to decreased exports following the spread of COVID-19. The Ministry of Environment plans to partially support the storage costs of export goods for exporting companies.

Meanwhile, on the 19th, the Ministry of Environment will sign a business agreement at the Korea Packaging Materials Recycling Association in Seocho-gu, Seoul, to expand the use of recycled raw materials between the PET recycling industry and the textile industry.

The participating organizations in the agreement have pledged to make mutual efforts to expand the use of recycled raw materials. It is expected that the use of PET recycled raw materials will increase by about 1,000 tons per month through this business agreement.

This content was produced with the assistance of AI translation services.