ICIS, a global source of Independent Commodity Intelligence Services, has announced 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. It also provides a complete view of R-HDPE and R-LDPE markets.

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.