SEATTLE (Recycling Monster): The latest issue of the Bureau of International Recycling (BIR) World Mirror on Plastics reiterated calls for the urgent need of legislation to boost the use of recycled content.

The recycled plastics prices in Europe have witnessed consistent decline over the past few months. The notable dip in consumers’ purchasing power on account of ongoing economic uncertainty in the region has led to build-up of massive stocks.

The market demand for all recyclables has been witnessing gradual decline in the U.S., which in turn has led to dip in prices. The markets are expected to recover in early next year, with moderate momentum expected by mid-2024, BIR noted.

The Chinese prime prices held steady over the past couple of weeks. The recent measures announced by the Development and Reform Commission is expected to result in reduction of overcapacities in plastic resin supply chains in the near future. The country reported low demand for recycled pellets, it noted.

The implementation of Deposit Refund Scheme (DRS) by Singapore and Poland in 2025 will provide significant boost to collection. The anticipated addition of plastic recycling capacity in Spain is also expected to boost the market for secondary plastic materials and promote a circular economy.