The Asian benzene market ended June on a firmer note despite fluctuations. Early in the month, prices surged due to rising crude oil benchmarks and healthy styrene demand. However, by mid-June, the pace slowed with stable refinery operations and cautious downstream buying. The final week saw a price decline driven by weaker styrene futures, inventory accumulation, and soaring container shipping rates from Asia to the U.S. Looking ahead, rigid downstream demand offers near-term support, but future price direction depends on crude oil markets, economic cues, and operational changes.
The Asian benzene market ended June on a stronger footing, even though it had sharp ups and downs during the month. The Asian market was strong in the initial half of the month but declined considerably towards the latter part owing to several external and...
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
