S&P Global Inc.’s SPGI Platts has announced that it has launched Asia price assessments for recycled polyethylene terephthalate (R-PET).
The new FOB Southeast Asia R-PET assessment is an addition to existing R-PET assessments in the U.S. and Europe, and completes Platts’ global coverage for R-PET.
The move is in response to the increasing demand for insights and transparency in the recycled plastic space as more and more companies get involved in it to tap into the growing demand for recycled plastic products amid rising environmental concerns.
It comes on the heels of Platts entering into a strategic agreement to add its comprehensive database of global jet fuel price assessments to MySky Platform.
Notably, Platts is an S&P Global division that operates as an independent provider of information and benchmark prices for the commodity and energy markets. It specializes in offering essential price data, analytics and industry insight.
According to Vanessa Ronsisvalle, regional pricing director, Asia petrochemicals, S&P Global Platts, “The increased transparency brought by these new assessments will help the development of the nascent recycled PET market in Southeast Asia by providing the market with an independent view of market value to help participants make informed trading decisions."
S&P Global’s shares have gained 40.1% over the past there months, significantly outperforming the 26.8% rally of the industry it belongs to.
Zacks Rank and Stocks to Consider
S&P Global currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are Elastic N.V. ESTC, SailPoint Technologies Holdings, Inc. SAIL and DocuSign, Inc. DOCU. All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Long-term earnings (three to five years) growth rates for Elastic, SailPoint Technologies and DocuSign are estimated at 26%, 15% and 31.2% respectively.
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