In July 2025, the European MDI market remained stable, with production at moderate levels due to limited benzene supply and weak downstream demand. Supply chains were strained by port congestion and low Rhine River levels, though steady internal EU trade helped reduce the impact. Demand from the polyurethane sector was moderate to low, supported slightly by EV production, while the construction sector saw slow progress due to high costs and labor shortages. Looking ahead, MDI prices are expected to rise in the second half of Q3, driven by stronger demand for coatings and limited supply during the summer holidays.
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.
