LONDON (ICIS)–The European recycled polyethylene terephthalate (R-PET) market remains subdued ahead of June monthly price talks as it continues to experience a downturn in demand during what should be its peak demand season. Buyers and sellers canvassed towards the end of May cited high stock levels, low virgin PET prices, offers of cheaper R-PET from outside the EU and a wider macroeconomic slowdown across Europe as factors contributing to lower-than-expected demand. Drops in PET prices during the month of May have added downward pressure to the colored (C) and mixed colored (MC) flake and food-grade pellet (FGP) sectors. Both sectors…