Imported plastic waste price increases

June 06 12:06:30, 2024

According to the news from Qingdao Customs, in the first five months of this year, 132,000 tons of waste plastics were imported from Shandong Port, a year-on-year decrease of 26%, worth US$77.823 million, an increase of 0.07% year-on-year, and an average price increase of 35.2%. The importing countries are mainly concentrated in South Korea, the United States, and the European Union, which together account for 87.8% of the total.
The growing demand for waste plastics by enterprises has caused the import prices to continue to rise. As international crude oil prices continue to rise, prices of petrochemical products such as primary plastics continue to fluctuate at high levels, and the use of recycled waste plastics has obvious cost advantages.
Customs staff introduced that the imported waste plastics were shoddy and could not be recycled. It was easy to cause environmental pollution in the domestic production process. Recently, the state has increased the supervision of waste plastic processing enterprises in coastal areas. To reduce costs and avoid supervision, some waste plastic recycling companies have begun to shift to the central and western regions. The issuance of plastic limit orders will reduce the use of waste plastics to some extent, and promote the change of the direction of waste plastics recycling.

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