COVID-19 virus-related restrictions in Asia and around the world have greatly reduced plastic recycling activities on that continent, according to Steve Wong, president of the China Sustainable Plastics Association (CSPA). Wong, also is CEO of Hong Kong-based Fukutomi Recycling Ltd., writes in a late April report that government actions including lockdowns and suspended economic activities have “severely affected global manufacturing industries and the use of raw materials, causing dramatic effects on the plastic recycling industry.”
“The extended city lockdowns [in] many of the main recycling countries in Asia, such as Malaysia, Vietnam, and India—along with social distancing restrictions in many Asian cities—has resulted in only 30 percent of recyclers continuing operations,” he writes. Of companies still running, Wong says many are “only running at 50 percent of their processing capacities.” The combination of increased transportation costs and a slower flow of goods means “the global plastic scrap trade is now facing a very difficult time,” writes Wong, who also serves on two committees for the Brussels-based Bureau of International Recycling (BIR).
A preview to the rest of the world on how reopened economies will affect plastic prices may be available in the People’s Republic of China. “As China has gradually lifted city lockdowns and factories resume productions, prime material prices of polypropylene and certain styrenics have gone up by between $30 to $80 per ton within the last two weeks,” writes Wong in late April. Additionally, he says, the restart of factories “may be helpful in the collection of receivables by recyclers.” Concludes Wong, “Nevertheless, the light at the end of the tunnel is yet to be seen as city lockdowns in China’s export markets are still in effect due to COVID-19.”
Source: Recycling Today
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