LONDON and SINGAPORE, March 24, 2022 /PRNewswire/ -- ICIS, a global source of Independent Commodity Intelligence Services, announces a new pricing service for recycled polyethylene (R-PE) in Asia. The new weekly pricing service offers benchmarkable pricing and valuable intelligence to help traders make effective buying and selling decisions and bring transparency into contract negotiations.
Recycled plastics markets remain complex. The new pricing service provides a complete view of R-HDPE and R-LDPE markets and shines a light into an otherwise opaque Asia Pacific market with reliable weekly pricing coverage.
The R-PE Pricing Service provides benefits and insights for all stakeholders in the recycled plastics supply chain. For FMCGs with public sustainability targets linked to the usage of recycled plastic, a ready view on pricing dynamics for this market will help them understand how much they should be paying for the material and how market conditions may impact overall costs. For mechanical recyclers, who are buying bales to feed their processes, insights into industry pricing will support their selling decisions. It will further provide convertors with independent pricing to benchmark against and help virgin polymer producers keep track on prices to understand the impact on their markets.
Louise Boddy, Head of Strategy – Sustainability at ICIS commented, "This is an important addition to our pricing tool portfolio and will help our industry partners understand how price and market movements potentially impact their sourcing strategy and overall cost and sustainability ambitions."
R-PE pricing is an important part of a circular plastics economy. The quickly growing volumes in this market mean increased price risk and the need for indexation in contracts to a reliable index. Even without indexation, the need for reliable pricing is required for negotiation and planning.
Louise Boddy, Head of Strategy – Sustainability concluded: "This latest pricing tool complements current tools providing intelligence on R-PET in Asia, R-PE pricing in other regions, and our Recycling Supply Trackers. It is another important step in our circular plastics solutions, which have already proved to be of immense value to our customers. It will help meet both pricing and sourcing challenges for this increasingly important sector."
Access to the right tools and expertise can accelerate confident procurement decision-making, now and in the future.
More details available here.
ICIS is a trusted source of global commodity intelligence for the energy, chemical and fertilizer industry. We are a division of RELX, a FTSE 15 company with a market cap of £44.9 billion and an employee base of over 30,000 experts across 40 countries.
At ICIS, we help businesses make strategic decisions, mitigate risk, improve productivity, and capitalise on new opportunities. We make some of the world's most important markets more trusted and predictable by providing data services, thought leadership and decision tools. As a result of our unmatched global presence, we can deliver targeted connected intelligence to influence thousands of decisions across supply chains every single day. We shape the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £44.9bn | €54bn | $59.3bn.